First Microfinance Laghubitta's Net Profit Declines by 38.68% in Q1 2081/82 As Core Revenue Dips, Maintains Zero Impairment Charges
Fri, Nov 8, 2024 9:05 AM on Financial Analysis, Company Analysis, Latest,
First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL) reported a decrease in net profit by 38.68% for Q1 of 2081/82, totaling Rs. 3.11 crore.
The company saw growth in retained earnings, which rose by 12.06% to Rs. 13.38 crore, and reserves and surplus, up by 5.84% to Rs. 30.19 crore, indicating a strengthened equity base.
Borrowings declined by 13.17% to Rs. 6.05 arba, and loans and advances to microfinance institutions (MFIs) and cooperatives fell by 15.29%, amounting to Rs. 6.27 arba. The company's net interest income also decreased by 25.12% to Rs. 6.01 crore, contributing to lower operating and net profits.
Earnings per share (EPS) dropped by 38.68%, now standing at Rs. 10.08. Capital adequacy remains strong at 22.69%, and the net worth per share grew by 1.89% to Rs. 135.32. With a quarter-end market price of Rs. 815 and a PE ratio of 80.88 times
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | First Microfinance Laghubitta | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 1,233,826.90 | 1,233,826.90* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 133,800.09 | 119,402.02* | 12.06% |
| Reserve & Surplus | 301,953.77 | 285,303.51* | 5.84% |
| Borrowings | 6,050,765.41 | 6,968,540.76* | -13.17% |
| Loans & Advances to MFIs & Cooperatives | 6,274,085.23 | 7,406,969.02* | -15.29% |
| Investment | 1,305.00 | 1,305.00* | 0.00% |
| Net Interest Income | 60,052.74 | 80,196.82 | -25.12% |
| Personnel Expenses | 12,719.07 | 15,299.30 | -16.87% |
| Impairment Charges/Reversal for loans and Advances | 0.00 | 0.00 | - |
| Operating Profit | 44,400.46 | 72,406.17 | -38.68% |
| Net Profit | 31,080.32 | 50,684.32 | -38.68% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 134,374.88 | 204,732.97 | -34.37% |
| Capital Adequacy (%) | 22.69 | 23.74 | -4.42% |
| NPL (%) | 4.44 | 1.19 | 272.80% |
| Cost of Fund (%) | 7.81 | 11.18 | -30.14% |
| Annualized EPS (In Rs.) | 10.08 | 16.43 | -38.68% |
| Net Worth per Share (In Rs.) | 135.32 | 132.80 | 1.89% |
