Global IME Laghubitta Reports 147.41% Profit Growth in Q2 with Rise in Net Interest Income and Lower Impairment Charges
Wed, Jan 29, 2025 10:41 AM on Financial Analysis, Company Analysis, Latest,
Global IME Laghubitta Bittiya Sanstha Limited (GILB) demonstrated an exceptional financial performance in the second quarter of the fiscal year 2081/82, reporting a significant 147.41% increase in net profit, which reached Rs. 11.83 crores compared to Rs. 4.78 crores in the same quarter of the previous year.
The company’s net interest income grew by 22.47% to Rs. 35.07 crores, while loans and advances expanded by 10.96% to Rs. 9.43 Arba. Deposits from customers also saw a 7.78% rise, reaching Rs. 3.31 Arba.
Operating profit surged by 147.43% to Rs. 16.90 crores, supported by a significant 73.92% reduction in impairment charges. However, personnel expenses increased by 27.10% to Rs. 16.60 crores.
Key financial indicators remained strong, with an annualized Earnings Per Share (EPS) of Rs. 38.24 and a net worth per share of Rs. 200.38, marking a 12.77% improvement. The company's cost of funds declined by 7.09% to 7.86%, while the Non-Performing Loan (NPL) ratio slightly decreased to 4.10%.
Despite a 19.02% decline in capital adequacy to 10.26%, market sentiment remained positive, as reflected in a quarter-end market price of Rs. 1,175 and a Price-to-Earnings (PE) ratio of 30.73.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Global IME Laghubitta | ||
|---|---|---|---|
| Q2 2081/82 | Q2 2080/81 | Difference | |
| Paid Up Capital | 618,900.05 | 618,900.05* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings & Reserves | 621,250.07 | 480,809.48* | 29.21% |
| Deposits from Customers | 3,309,419.35 | 3,070,490.83* | 7.78% |
| Loans and Advances to Customers | 9,434,069.55 | 8,501,959.96* | 10.96% |
| Net Interest Income | 350,748.11 | 286,392.51 | 22.47% |
| Personnel Expenses | 166,027.02 | 130,625.78 | 27.10% |
| Impairment Charges | 27,638.26 | 105,988.16 | -73.92% |
| Operating Profit | 169,067.04 | 68,329.86 | 147.43% |
| Net Profit | 118,339.93 | 47,830.90 | 147.41% |
| Capital Adequacy (%) | 10.26 | 12.67 | -19.02% |
| NPL (%) | 4.10 | 4.21 | -2.61% |
| Cost of Fund (%) | 7.86 | 8.46 | -7.09% |
| EPS (In Rs.) | 38.24 | 15.46 | 147.41% |
| Net Worth per Share (In Rs.) | 200.38 | 177.69 | 12.77% |
| Qtr end PE Ratio (times) | 30.73 | - | - |
| Qtr End Market Price | 1175.00 | - | - |
