Increase in Operating Cost Leads to Decline in Profitability of Jeevan Laghubitta in Q1; Net Profit Decreases by 16.40% and Annualized EPS Stands at Rs. 57.10
Fri, Nov 11, 2022 11:18 AM on Latest, Financial Analysis, Stock Market,
Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) published the first-quarter report of FY 2079/2080 with a decline in Net Profit by 16.40%. As per the report published by the company, the net profit decreased to Rs. 14.76 crores as compared to Rs. 17.66 crores in the corresponding quarter of the previous year.
The borrowings of the company has also decreased by 6.06% to Rs. 10.06 Arba which was Rs.10.71 Arba in the corresponding quarter of the previous year. However, the deposits of the company increased by 16.58% to Rs. 9.76 Arba. The company’s loans and advances have increased by 12.31% to 24.26 Arba in this quarter.
The net interest income (core revenue) has increased by 5.94% to Rs. 40.6 Crores compared to Rs. 38.34 Crores in the corresponding quarter of the previous year.
The operating expenses of the company i.e staff expenses has increased by 21.58% to stand at Rs. 17.28 Crores, which has also impacted the profitability of the company for this period. Likewise, the provision for possible losses also increased by 4.99% to Rs. 14.64 Crores.
The paid-up capital of the company stood at Rs. 1.03 arba in this quarter and its reserve and surplus stood at Rs. 1.68 Arba which is an increase of 12.67% in this quarter.
The company's non-performing loans stand at 1.12% till this quarter.
Its annualized earnings per share (EPS) stand at Rs. 57.10. The net worth per share is Rs. 263.10.
Major Highlight
| Particulars (In Rs '000) | Jeevan Bikas Laghubitta Bittiya Sanstha | ||
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 1,034,280.00 | 608,400.00 | 70.00% |
| Reserves and Surplus | 1,686,899.84 | 1,497,157.65 | 12.67% |
| Borrowings | 10,064,237.52 | 10,713,457.92 | -6.06% |
| Deposits | 9,760,923.99 | 8,372,535.15 | 16.58% |
| Loans & Advances | 24,263,731.34 | 21,604,129.50 | 12.31% |
| Net Interest Income | 406,280.04 | 383,493.24 | 5.94% |
| Staff Expenses | 172,805.25 | 142,137.48 | 21.58% |
| Provision for possible losses | 146,428.69 | 139,462.63 | 4.99% |
| Operating Profit | 125,169.80 | 158,314.45 | -20.94% |
| Net Profit | 147,642.37 | 176,609.03 | -16.40% |
| Capital Adequacy (%) | 11.93 | 10.11 | 18.00% |
| NPL (%) | 1.12 | 0.68 | 64.71% |
| Cost of Fund (%) | 10.33 | 7.92 | 30.43% |
| EPS (In Rs.) | 57.10 | 116.11 | -50.82% |
| Net Worth per Share (In Rs.) | 263.10 | 346.08 | -23.98% |
| Qtr end PE Ratio (times) | 43.82 | - | - |
| Qtr End Market Price | 2502 | - | - |
