Higher Operating Cost & Provisions for Possible Losses Affects Profitability of Jalpa Samudayik Laghubitta for Q1; Reports Net Loss of Rs. 10.30 Lakhs
Wed, Nov 16, 2022 8:17 AM on Latest, Financial Analysis, Stock Market,
Jalpa Samudayik Laghubitta Bittiya Sanstha Ltd (JALPA) published the first-quarter report of FY 2079/2080 with a Net loss of Rs. 10.30 Lakhs. In the corresponding quarter of the previous year, the company was operating in net profit of Rs. 1.03 Crores.
The net interest income (core revenue) has increased by 16.60% to Rs. 9.4 crores compared to Rs. 8.10 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 23.90% to Rs. 1.90 Arba which was Rs. 1.53 Arba in the corresponding quarter of the previous year. At the same time, deposits increased by 18.83% to Rs 2.60 arba.
The company’s loans and advances have also increased by 20.53% to Rs. 5.09 Arba till this quarter.
The staff expenses of the company have increased by 42.76% to stand at Rs. 7.63 Crores. Whereas, the provision for possible losses has increased by a huge margin of 927.43%, to stand at Rs. 3.62 Crores. Higher operating cost and the provisions for possible losses, both has vastly affected the profitability of the company for this period.
The paid-up capital of the company stood at Rs.16 crores till this quarter and its reserve and surplus stood at Rs. 38.10 Crores which is an increment of 21.77% in this quarter.
The cost of funds increased to 8.97% from 6.87% in the corresponding quarter and the non-performing loans declined to 3.61%.
Its annualized earnings per share (EPS) stand at Rs. -0.64. The net worth per share is Rs. 338.13
Major Financial Highlights
| Particulars (In Rs '000) | Jalpa Samudayik Laghubitta | ||
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 160,000.00 | 107,800.00 | 48.42% |
| Reserve & Surplus | 381,005.53 | 312,893.69 | 21.77% |
| Borrowings | 1,903,735.92 | 1,536,564.69 | 23.90% |
| Deposits | 2,609,432.34 | 2,195,869.46 | 18.83% |
| Loans & Advances | 5,097,129.68 | 4,228,863.31 | 20.53% |
| Net Interest Income | 94,511.55 | 81,055.94 | 16.60% |
| Staff Expenses | 76,391.08 | 53,509.49 | 42.76% |
| Provision for possible losses | 36,274.11 | 3,530.57 | 927.43% |
| Operating Profit | -13,267.00 | 96,092.00 | |
| Write Back | 12,236.63 | 12,960.92 | -5.59% |
| Net Profit | -1,030.66 | 10,389.64 | |
| Capital Adequacy (%) | 10.97 | 10.42 | 5.28% |
| NPL (%) | 3.61 | 3.70 | -2.43% |
| Cost of Fund (%) | 8.97 | 6.87 | 30.57% |
| Annualized EPS (In Rs.) | -0.64 | 9.64 | |
| Net Worth per Share (In Rs.) | 338.13 | 390.25 | -13.36% |
| Qtr End Market Price | 2937.2 | - | - |
