Higher Impairment Charges led to Massive Decline in Net Profit by 108.05% for Manakamana Smart (MKLB) in Q3 of FY 2079/80
Mon, May 8, 2023 3:20 PM on Latest, NEPSE News, Stock Market,
Manakamana Smart Laghubitta Bittiya Sanstha Limited ( MKLB ) published the third-quarter report of FY 2079/2080 with a massive decline in Net Profit by 108.05 %. As per the report published by the company, the net profit declined to a negative to Rs. 42.52 lakhs as compared to Rs. 5.28 crores in the corresponding quarter of the previous year.
The borrowings of the company decreased by 29.92 % to Rs. 37.6 crores which was Rs. 53.68 crores in the corresponding quarter of the previous year. At the same time, deposits increased by 17.57 % to Rs 4.69 crores.
The company’s loans and advances have decreased by 13.91 % to Rs. 93.49 crores till this quarter.
The net interest income (core revenue) has plummeted by 25.73 % to Rs. 4.15 crores compared to Rs. 5.59 crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 14.17 crores till this quarter and its reserve and surplus stood at Rs. 1.87 crores which is a decrease of 41.98 % in this quarter.
The cost of funds increased slightly to 9.83 % from 8.08 % in the corresponding quarter and the non-performing loans increased to 4.91%.
Its annualized earnings per share (EPS) stand at Rs. - 4. The net worth per share is Rs. 113.2.
| Particulars (In Rs '000) | Manakamana Smart Laghubitta | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 141,745.50 | 141,745.50 | 0.00% |
| Reserves and Surplus | 18,741.17 | 32,301.54 | -41.98% |
| Borrowings | 376,216.39 | 536,869.45 | -29.92% |
| Deposits | 46,983.16 | 39,961.99 | 17.57% |
| Loans & Advances | 934,999.15 | 1,086,090.82 | -13.91% |
| Net Interest Income | 41,538.68 | 55,928.93 | -25.73% |
| Staff Expenses | 39,388.15 | 37,333.21 | 5.50% |
| Impairment Charges | 64,948.91 | 15,245.24 | 326.03% |
| Operating Profit | -63,860.95 | 5,492.84 | |
| Net Profit | -4,252.52 | 52,818.35 | |
| Capital Adequacy (%) | 15.85 | 15.12 | 4.83% |
| NPL (%) | 11.95 | 4.77 | 150.52% |
| Cost of Fund (%) | 9.83 | 8.08 | 21.66% |
| EPS (In Rs.) | -4.00 | 49.68 | |
| Net Worth per Share (In Rs.) | 113.22 | 122.79 | -7.79% |
| Qtr End Market Price | 650 | - | - |
