First Microfinance Laghubitta Reports 20.52% Decline in Q1 Net Profit, Core Revenue and Operating Profit Also Down
Thu, Nov 2, 2023 10:38 AM on Financial Analysis, Company Analysis, Latest,
First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL) unveiled its first-quarter financial report for the fiscal year 2080-81, disclosing a 20.52% decrease in net profit, totaling Rs. 5.06 crores compared to the previous year's Rs. 6.37 crores in the corresponding quarter of FY 2079-80.
The report highlighted a substantial decline in key financial indicators, with net interest income experiencing a notable 33.27% decrease, emphasizing challenges in the company's core revenue. Operating profit also faced a downturn, declining by 20.52%.
Despite these challenges, the company maintained an Annualized Earnings per Share (EPS) of Rs. 17.66, marking a comparative decline of 20.52%. The Net Worth per Share stands at Rs. 142.37, showcasing the underlying value for shareholders.
FMDBL saw a rise in Non-Performing Loans (NPL) to 1.91%. The company retains Rs. 20.47 crores as a distributable profit to its shareholders. FMDBL's financial structure includes a paid-up capital of Rs. 1.14 Arba, retained earnings of Rs. 20.47 crores, and reserves amounting to Rs. 28.16 crores.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | First Microfinance Laghubitta | ||
|---|---|---|---|
| Q1 2080/81 | Q1 2079/80 | Difference | |
| Paid Up Capital | 1,147,746.00 | 1,147,746.00 | 0.00% |
| Retained Earnings | 204,732.97 | 181,892.16 | 12.56% |
| Reserve & Surplus | 281,610.86 | 254,256.72 | 10.76% |
| Borrowings | 6,466,356.99 | 7,465,041.95 | -13.38% |
| Loans & Advances to MFIs & Cooperatives | 7,131,617.53 | 7,656,215.81 | -6.85% |
| Net Interest Income | 80,196.82 | 120,179.19 | -33.27% |
| Personnel Expenses | 15,299.30 | 16,851.96 | -9.21% |
| Impairment Charges/Reversal for loans and Advances | 0.00 | -12,635.49 | - |
| Operating Profit | 72,406.17 | 91,101.88 | -20.52% |
| Net Profit | 50,684.32 | 63,771.32 | -20.52% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 204,732.97 | ||
| Capital Adequacy (%) | 23.74 | 14.90 | 59.33% |
| NPL (%) | 1.91 | 0.00 | |
| Cost of Fund (%) | 11.18 | 11.77 | -5.01% |
| EPS (In Rs.) | 17.66 | 22.22 | -20.52% |
| Net Worth per Share (In Rs.) | 142.37 | 138.00 | 3.17% |
| Qtr end PE Ratio (times) | 35.63 | - | - |
| Qtr End Market Price | 629.4 | - | - |
