Ganapati Laghubitta Records Rise in NPL and Fall in Net Profits in Q4
Thu, Aug 3, 2023 11:23 AM on Latest, Financial Analysis,
Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) has published its fourth-quarter report for the recently concluded financial year 2079-80 with a sharp decline in its Net Profit by 67.84 percent. As of FY 2079-80 end, the company has made Rs. 70.28 lakhs as opposed to Rs. 2.18 crores that the company had earned up to the corresponding quarter of FY 2078-79.
Both Net Interest Income and Operating Profits of the company have declined by 14.70 and 56.83 percent, respectively. Up to the last quarter of FY 2079-80, the company’s core business revenue and Operating Profit stands at Rs. 11.51 crores and 98.99 lakhs, respectively.
However, the impairment allocation of the financial institution has declined and totals Rs. 1.14 crores, as of FY 2079-80 end.
The Earnings per Share (EPS) of the company too has plummeted to Rs. 4.23 contrary to Rs. 14.42 as of FY 2078-79 end, while its Net worth per Share is Rs. 129.24.
The company has Rs. 83.79 lakhs available for distribution amongst its shareholders.
The Non-performing Loan (NPL) of the company has risen sharply to 4.52 percent from 1.64 percent, negatively affecting the profitability of the company.
GMFBS maintains Rs. 15.15 crores in paid-up capital and has Rs. 4.43 crores in reserve and surplus (reserves + retained earnings).
Major Financial Highlights:
| Particulars (In Rs '000) | Ganapati Laghubitta | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 151,554.53 | 151,554.53 | 0.00% |
| Retained Earnings | 8,379.37 | 20,497.84 | -59.12% |
| Reserves | 35,941.53 | 59,524.60 | -39.62% |
| Borrowings | 1,623,430.35 | 1,459,245.57 | 11.25% |
| Deposits | 550,434.33 | 573,242.85 | -3.98% |
| Loans & Advances to Customers | 2,240,132.34 | 2,225,529.94 | 0.66% |
| Net Interest Income | 115,107.52 | 134,952.20 | -14.70% |
| Personnel Expenses | 93,881.63 | 84,132.97 | 11.59% |
| Impairment Charges | 11,404.51 | 31,467.51 | -63.76% |
| Operating Profit | 9,888.34 | 22,905.91 | -56.83% |
| Net Profit | 7,028.82 | 21,853.63 | -67.84% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 8,379.37 | - | - |
| Capital Adequacy (%) | 8.83 | 9.73 | -9.25% |
| NPL (%) | 4.52 | 1.64 | - |
| Cost of Fund (%) | 11.82 | 11.47 | 3.05% |
| EPS (In Rs.) | 4.64 | 14.42 | -67.84% |
| Net Worth per Share (In Rs.) | 129.24 | 152.80 | -15.42% |
| Base Rate (%) | 20.74 | 18.87 | 9.91% |
| Interest Rate Spread | 4.23 | 3.51 | 20.51% |
| Qtr end PE Ratio (times) | 174.85 | - | - |
| Qtr End Market Price | 810.9 | - | - |
