Laxmi Laghubitta Demonstrates Poor Financial Performance Across Indicators in Q4; EPS at Rs. - 18.81; NPL Above 8 Percent
Wed, Aug 9, 2023 9:04 AM on Financial Analysis, Latest,
Laxmi Laghubitta Bittiya Sanstha Limited (LLBS) has published its fourth-quarter report for the recently concluded financial year 2079-80 with a Net Loss of Rs. 8.30 crores as opposed to Rs. 20.69 crores up to the corresponding quarter of the previous fiscal year 2078-79.
Both deposits from customers and loan disbursement have decreased by 8. 90 percent and 25.15 percent, respectively. Until Q4 of FY 079-80, the microfinance company has collected Rs. 2.32 Arba in deposits and disbursed Rs. 5.76 Arba in loans and advances.
The Net Interest Income and Operating Profit have experienced a sharp comparative decline of 31.32 percent and 140.34 percent, respectively. As of the last quarter of FY 2079-80, the company has made Rs. 36.69 crores via core business revenue, while it has generated Rs. 8.34 crores in Operating Profits.
The Impairment allocation of the company has more than doubled totaling Rs. 13.03 crores as of Q4 of 2079-80, which has negatively affected the profitability of the company.
The financial institution has Rs 6.90 crores available for distribution amongst its shareholders as of Ashad 31, 2080.
With a decline in Net profits, the company's Earnings per Share (EPS) ratio has declined, summing up to a negative Rs. -18.81, alongside a Net worth per Share of Rs. 179.01.
The company's Non-performing Loan (NPL) has risen sharply and is maintained at 8.36 percent, as of the last quarter of FY 2079-80.
LLBS has an issued paid-up capital of Rs. 44.16 crores and it maintains Rs. 34.89 crores in reserves and surplus (retained earnings + reserves).
Major Financial Highlights:
| Particulars (In Rs '000) | Laxmi Laghubitta | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 441,662.10 | 384,054.00 | 15.00% |
| Retained Earnings | 133,543.39 | 226,560.53 | -41.06% |
| Reserves | 215,418.19 | 213,982.21 | 0.67% |
| Deposits from Customers | 2,324,461.62 | 2,551,506.11 | -8.90% |
| Borrowings | 3,021,288.08 | 4,455,540.45 | -32.19% |
| Loans & Advances | 5,768,022.58 | 7,706,458.76 | -25.15% |
| Net Interest Income | 366,997.42 | 534,354.91 | -31.32% |
| Staff Expenses | 306,251.54 | 280,867.87 | 9.04% |
| Impairment Charges | 130,327.71 | 59,802.01 | 117.93% |
| Operating Profit | -83,480.66 | 206,962.64 | - |
| Net Profit/Loss | -83,064.37 | 159,090.69 | - |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 69,098.29 | 131,457.10 | -47.44% |
| Capital Adequacy (%) | 11.33 | 10.23 | 10.75% |
| NPL (%) | 8.36 | 3.27 | 155.66% |
| Cost of Fund (%) | 10.33 | 9.80 | 5.41% |
| EPS (In Rs.) | -18.81 | 41.42 | - |
| Net Worth per Share (In Rs.) | 179.01 | 214.71 | -16.63% |
| Qtr end PE Ratio (times) | - | - | - |
| Qtr End Market Price | 893 | - | - |
