Due to Huge Incline in Impairment Charges, Nirdhan Utthan Laghubitta (NUBL) Reports Decline in Net Profit by 83.88% for Q1; Annualized EPS at Rs. 5.93 and NPL at 7.14%
Sun, Nov 13, 2022 10:53 AM on Latest, Financial Analysis, Stock Market,
Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NUBL) has published its unaudited financial report for the first quarter of the fiscal year 2079/80 today. It has stated that net profit has decreased by 83.88% to Rs 3.25 Crores in the first quarter from Rs 20.19 Crores reported in the corresponding quarter of the previous fiscal year 2078/79.
The microfinance has borrowings of Rs 5.94 arba. Likewise, it extended loans of Rs 26.88 Arba from Rs 27.43 arba in corresponding quarter. It has collected deposits of Rs 18.40 arba till the first quarter.
NUBL’s net interest income decreased by 6.96% from Rs 51.59 Crores to Rs 48 Crores. Likewise, The finance expenses has increased by 30.76% in the quarter.
For the first quarter, the impairment charges has increased by a huge margin of 262.78% to stand at Rs. 26.92 Crores, which has affected the profitability of the company for this period.
The microfinance’s non-performing loan (NPL) has increased to 7.14 percent in the review period.
It has paid up capital of Rs 2.19 arba with reserve and surplus of Rs 2.57 Arba till first quarter.
It's annualized earning per share (EPS) stands at Rs 5.93. Currently, Net worth per share stands at Rs 217.12 and P/E ratio at 136.74 times.
Major Financial Highlights
| Particulars (In Rs '000) | Nirdhan Laghubitta Bittiya Sanstha | ||
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 2,195,025.00 | 2,195,025.00 | 0.00% |
| Share Premium | 510.00 | 510.00 | 0.00% |
| Retained Earnings | 789,750.00 | 829,886.00 | -4.84% |
| Reserves | 1,780,647.00 | 1,800,734.00 | -1.12% |
| Borrowings | 5,945,308.20 | 6,288,104.00 | -5.45% |
| Deposits | 18,480,909.00 | 18,182,829.00 | 1.64% |
| Loans & Advances | 26,889,010.60 | 27,437,365.00 | -2.00% |
| Interest Expenses | 522,305.00 | 399,430.00 | 30.76% |
| Net Interest Income | 480,076.00 | 515,993.87 | -6.96% |
| Personnel Expenses | 226,025.00 | 251,741.00 | -10.22% |
| Impairment Charges/(reversal) for loans and advances | 269,299 | 74,233 | 262.78% |
| Net Profit | 32,550.58 | 201,937.91 | -83.88% |
| Net Profit availabe for Distribution | 25,389.45 | ||
| Capital Adequacy (%) | 13.84 | 15.87 | -12.79% |
| NPL (%) | 7.14 | 3.59 | - |
| Cost of Fund (%) | 8.61 | 7.29 | 18.11% |
| EPS (In Rs.) | 5.93 | 36.80 | -83.88% |
| Net Worth per Share (In Rs.) | 217.12 | 219.87 | -1.25% |
| Qtr end PE Ratio (times) | 136.74 | - | - |
| Qtr End Market Price | 811.1 | - | - |
