Himalayan Laghubitta's Net Profit Surges to Rs.1.34 Crores in Q1 2081/82 as Net Interest Income Increases 30.29%
Fri, Oct 25, 2024 8:14 AM on Financial Analysis, Company Analysis, Latest,
Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) has reported a significant financial performance in the first quarter of fiscal year 2081/82.
The company achieved a remarkable 1142.31% growth in net profit, reaching Rs. 1.34 crores compared to Rs. 10.86 lakh in the same quarter last year. This profit surge was supported by a 30.29% increase in net interest income, totaling Rs. 7.21 crores.
The company saw its loans and advances grow by 13.85% to Rs. 4.28 Arba. Borrowings increased significantly by 35.06% to Rs. 3.51 Arba, with deposits also rising by 4.82% to Rs. 94.79 crores.
The company reported an annualized EPS of Rs. 16.88 and a net worth per share of Rs. 149.69, a 2.94% increase from the previous year.
Himalayan Laghubitta’s cost of funds saw a substantial decrease, down by 33.74% to 8.23%, indicating improved funding efficiency. However, the non-performing loan (NPL) ratio increased to 3.72%, reflecting a rise of 27.40%.
With a quarter-end market price of Rs. 951 and a PE ratio of 56.33, the market remains optimistic about the company's future growth.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Himalayan Laghubitta | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 319,818.20 | 319,818.20* | 0.00% |
| Share Premium | 45,543.05 | 45,543.05* | 0.00% |
| Retained Earnings | -8,992.23 | -2,289.46* | - |
| Reserve & Surplus | 122,364.01 | 101,975.97* | 19.99% |
| Borrowings | 3,515,141.79 | 2,602,697.96* | 35.06% |
| Deposits | 947,881.51 | 904,279.52* | 4.82% |
| Loans & Advances to MFIs & Cooperatives | 4,287,348.11 | 3,765,788.29* | 13.85% |
| Net Interest Income | 72,065.31 | 55,311.34 | 30.29% |
| Personnel Expenses | 48,604.17 | 43,717.27 | 11.18% |
| Impairment Charges/Reversal for loans and Advances | 1,173.59 | 6,317.91 | -81.42% |
| Operating Profit | 19,284.68 | 1,552.32 | 1142.31% |
| Net Profit | 13,499.28 | 1,086.63 | 1142.31% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | -8,992.23 | ||
| Capital Adequacy (%) | 9.30 | 9.60 | -3.12% |
| NPL (%) | 3.72 | 2.92 | 27.40% |
| Cost of Fund (%) | 8.23 | 12.42 | -33.74% |
| Annualized EPS (In Rs.) | 16.88 | 1.36 | 1142.31% |
| Net Worth per Share (In Rs.) | 149.69 | 145.41 | 2.94% |
| Qtr end PE Ratio (times) | 56.33 | - | - |
| Qtr End Market Price | 951 | - | - |
