Ganapati Laghubitta Reports Decline in Net Profit and Revenue for Second Quarter; NPL at 4.66%
Wed, Feb 7, 2024 8:22 AM on Latest, Financial Analysis, Company Analysis,
Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) has released its second-quarter financial report for the fiscal year 2080/2081, revealing a 5.33% decline in Net Profit. The net profit for this quarter decreased to Rs. 1.07 Crores, down from Rs. 1.13 Crores in the same quarter of the previous year.
Furthermore, the company witnessed a 14.25% reduction in borrowings, amounting to Rs. 1.49 Arba, compared to the immediate previous year. Additionally, loans and advances decreased by 17.89% to 2.05 Arba.
The net interest income, representing core revenue, experienced a 3.7% decline, reaching Rs. 5.25 crores, as opposed to Rs. 5.06 crores in the corresponding quarter of the previous year.
In terms of financial structure, the paid-up capital for the quarter was Rs. 15.15 crores, and the reserve and surplus amounted to Rs. 6.87 crores.
The company's annualized earnings per share were reported at Rs. 14.18, with a net worth per share standing at Rs. 146.74. Notably, the company traded at 55.73 times its earnings.
On another financial front, the Non-Performing Loans (NPL) experienced a notable surge of 153.26%, resulting in a standing ratio of 4.66%.
Major Financial Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | Ganapati Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 151,554.53 | 151,554.53* | 0.00% |
| Share Premium | 0.00 | 0.00* | - |
| Retained Earnings | 2,080.62 | 28,749.75* | -92.76% |
| Reserves & Surplus | 68,757.97 | 26,422.49* | 160.23% |
| Borrowings | 1,497,376.72 | 1,746,313.08* | -14.25% |
| Deposits from Customers | 486,372.30 | 579,927.42* | -16.13% |
| Loans and Advances to Customers | 2,059,863.80 | 2,508,723.38* | -17.89% |
| Net Interest Income | 52,529.11 | 50,655.40 | 3.70% |
| Personnel Expenses | 48,075.07 | 50,838.76 | -5.44% |
| Impairment Charges | -19,008.17 | 2,846.13 | - |
| Operating Profit | 15,346.16 | 16,210.41 | -5.33% |
| Net Profit | 10,742.31 | 11,347.29 | -5.33% |
| Capital Adequacy (%) | 8.92 | 8.81 | 1.25% |
| NPL (%) | 4.66 | 1.84 | 153.26% |
| Cost of Fund (%) | 10.49 | 11.83 | -11.33% |
| Annualized EPS (In Rs.) | 14.18 | 14.97 | -5.33% |
| Net Worth per Share (In Rs.) | 146.74 | 136.40 | 7.58% |
| Qtr end PE Ratio (times) | 55.73 | - | - |
| Qtr End Market Price | 790.00 | - | - |
