Higher Impairment Charges Led to 94.52% Decline in Net Profit of Nirdhan Utthan Laghubitta for Q3; NPL At 12.09%
Mon, May 8, 2023 11:29 AM on Latest, Financial Analysis, Stock Market,
Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NUBL) has published its unaudited financial report for the third quarter of the fiscal year 2079/80 today. It has stated that net profit has decreased by 94.52% to Rs 4.40 Crores in the third quarter from Rs 80.2 Crores reported in the corresponding quarter of the previous fiscal year 2078/79.
The microfinance has borrowings of Rs 4.96 arba. Likewise, it extended loans of Rs 25.57 Arba from Rs 27.16 arba in corresponding quarter. It has collected deposits of Rs 19.06 arba till the third quarter.
NUBL’s net interest income decreased by 10.20% from Rs 1.56 Arba to Rs 1.40 Arba. For the third quarter, the company has reported impairment charges of Rs. 86.19 Crores, which has affected the profitability of the company for this period.
The microfinance’s non-performing loan (NPL) has increased to 12.09 percent from 3.33 percent in the review period.
It has paid up capital of Rs 2.61 arba with reserve and surplus of Rs 1.92 Arba till third quarter. With this capital the EPS of the company is Rs. 2.25 and Net Worth Per Share is Rs. 173.76
Major Financial Highlights
| Particulars (In Rs '000) | Nirdhan Utthan l Laghubitta | ||
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 2,612,079.75 | 2,195,025.00 | 19.00% |
| Share Premium | 510.11 | 510.11 | 0.00% |
| Retained Earnings | 92,322.85 | 487,303.54 | -81.05% |
| Reserves | 1,833,888.04 | 1,944,783.41 | -5.70% |
| Borrowings | 4,964,360.78 | 6,289,339.00 | -21.07% |
| Deposits from Customers | 19,063,292.82 | 18,182,829.52 | 4.84% |
| Loans and Advances to Customers | 25,579,030.65 | 27,168,994.19 | -5.85% |
| Net Interest Income | 1,409,752.51 | 1,569,792.97 | -10.20% |
| Personnel Expenses | 652,883.99 | 784,386.80 | -16.77% |
| Impairment Charges | 861,998.31 | ||
| Write Back | 58,897.26 | -100.00% | |
| Net Profit | 44,024.31 | 802,697.65 | -94.52% |
| Capital Adequacy (%) | 13.36 | 13.82 | -3.33% |
| NPL (%) | 12.09 | 3.33 | 263.06% |
| Cost of Fund (%) | 8.37 | 7.58 | 10.42% |
| EPS (In Rs.) | 2.25 | 48.76 | -95.39% |
| Net Worth per Share (In Rs.) | 173.76 | 210.82 | -17.58% |
| Qtr end PE Ratio (times) | 278.12 | - | - |
| Qtr End Market Price | 625.00 | - | - |
