First Microfinance Q2 Highlights: Net Profit Rises by 38.35%, NPL at 0.17% and Annualized EPS Stands at Rs 25.18
Wed, Jan 18, 2023 10:56 AM on Latest, Financial Analysis, Stock Market,
First Microfinance Laghubitta Bittiya Sastha Limited (FMDBL) has published its second-quarter report for the FY 2079/2080 with an increment in Net Profit by 38.35%. FMDBL's net profit has increased from Rs. 10.44 Crore in the second quarter of FY 2078/2079 to Rs. 14.44 Crore in the second quarter of FY 2079/2080.
In the same quarter, the company has Rs 9.86 crores as distributable profit after PL Appropriation and Regulatory Adjustments.
The microfinance’s borrowings decreased by 7.67% to Rs. 8.73 arba whereas loans and advances to MFIs and Cooperative decreased by 2.89% to Rs. 10.09 arba till the second quarter. FMDBL's Net Interest Income- NII (core business income) has increased by 26.46% to Rs. 23.05 crore compared to the corresponding quarter of the previous year.
The company’s paid-up capital stands at Rs. 1.14 arba with Rs. 38.18 crore in Reserve and surplus. The Non-performing loan (NPL) stands at 0.17%.
The earnings per share (EPS) of FMDBL stood at Rs. 25.18 and Net worth per share stood at Rs. 133.27. The company traded at a P/E multiple of 26.93 times.
FMDBL also proposed a 20% dividend worth Rs. 19.28 Crores for the fiscal year 2078/79. The book closure date to avail such dividend was on Poush 17, hence, the dividend of last fiscal year- 78/79 has already been capitalized by the company and published in the second-quarter financial report.
Major Highlights:
| Particulars (In Rs '000) | First Microfinance Laghubitta | ||
|---|---|---|---|
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 1,147,746.00 | 964,492.00 | 19.00% |
| Reserve & Surplus | 381,853.00 | 431,856.00 | -11.58% |
| Borrowings | 8,731,836.00 | 9,457,637.00 | -7.67% |
| Loans & Advances to MFIs & Cooperatives | 10,091,787.00 | 10,392,164.00 | -2.89% |
| Net Interest Income | 230,567.00 | 182,318.00 | 26.46% |
| Personnel Expenses | 34,944.00 | 29,380.00 | 18.94% |
| Impairment Charges | 15,892.00 | 30,367.00 | -47.67% |
| Operating Profit | 206,405.00 | 148,835.00 | 38.68% |
| Net Profit | 144,483.00 | 104,433.00 | 38.35% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 98,624 | ||
| Capital Adequacy (%) | 14.60 | 12.24 | 19.28% |
| NPL (%) | 0.17 | 0.00 | |
| Cost of Fund (%) | 11.98 | 8.59 | 39.46% |
| Annualized EPS (In Rs.) | 25.18 | 21.66 | 16.26% |
| Net Worth per Share (In Rs.) | 133.27 | 144.78 | -7.95% |
| Qtr end PE Ratio (times) | 26.93 | - | - |
| Qtr End Market Price | 678 | - | - |
