Jalpa Samudayik Laghubitta Shows Recovery Despite Decline in Core Revenue, Reports Rs. 62.81 Lakhs Net Profit in Q3 FY 2080/81
Sun, May 5, 2024 11:13 AM on Financial Analysis, Company Analysis, Latest,
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) has demonstrated remarkable financial strength during the third quarter of Fiscal Year 2080/81, showcasing a substantial surge in earnings amounting to Rs. 62.81 Lakhs. This marks a significant turnaround from the net loss of 3.92 Crores reported during the corresponding quarter of the previous fiscal year.
Despite a marginal decline of 10.98% in core revenue, particularly net interest income, which decreased from Rs. 23.85 crores to Rs. 20.82 crores compared to the same quarter last year.
Deposits saw a minimal increase of 0.07% to Rs. 2.69 Arba, while loans and advances experienced a modest uptick of 5.36%, reaching Rs. 4.82 Arba during the third quarter.
During Q3, JALPA reported impairment charges totaling Rs. 5.17 crores, marking a significant decline of 49.06%. This reduction in impairment charges substantially contributed to the increase in net profit for the company.
In terms of its financial position, JALPA reported a paid-up capital of Rs. 18.28 Crore, accompanied by retained earnings of Rs. 6.11 Crores and reserves and surplus standing at Rs. 26.83 Crores. The annualized earnings per share (EPS) stood at Rs. 4.58, with the net worth per share recorded at Rs. 280.24. Notably, JALPA traded at a P/E multiple of 268.67 times during the period.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Jalpa Samudayik Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 182,800.00 | 160,000.00* | 14.25% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 61,176.49 | 145,806.32* | -58.04% |
| Reserves | 268,305.57 | 176,586.49* | 51.94% |
| Deposits | 2,691,557.07 | 2,689,707.90* | 0.07% |
| Loans & Advances to Customers | 4,820,442.60 | 4,575,281.39* | 5.36% |
| Net Interest Income | 208,269.48 | 238,589.16 | -12.71% |
| Personnel Expenses | 163,764.51 | 183,957.47 | -10.98% |
| Impairment Charges | 51,733.72 | 101,554.24 | -49.06% |
| Operating Profit | 8,973.98 | -39,234.49 | - |
| Net Profit | 6,281.79 | -39,234.49 | - |
| Distributable Profit | 61,176.49 | 0.00 | - |
| Capital Adequacy (%) | 9.31 | 9.15 | 1.75% |
| NPL (%) | 7.39 | 3.77 | 96.02% |
| Cost of Fund (%) | 9.42 | 11.52 | -18.23% |
| EPS (In Rs.) | 4.58 | -32.70 | -114.01% |
| Net Worth per Share (In Rs.) | 280.24 | 301.50 | -7.05% |
| Qtr end PE Ratio (times) | 268.67 | - | - |
| Qtr End Market Price | 1231 | - | - |
