Laxmi Laghubitta (LLBS) Shines with Rs. 2.15 Crores Net Profit; NPL Surge, and Core Revenue Decline in Q2
Sun, Feb 4, 2024 9:19 AM on Financial Analysis, Company Analysis, Latest,
Laxmi Laghubitta Bittiya Sanstha Limited (LLBS) has unveiled its second-quarter results for FY 2080/2081, revealing a noteworthy turnaround in its financial performance. The microfinance institution reported a substantial net profit of Rs. 2.15 Crores, showcasing a significant improvement from the negative Rs. 2.4 Crore recorded in the corresponding quarter of the previous year.
Despite a commendable 15.54% increase in loans and advances, LLBS faced a modest 3.16% decline in deposits, reaching Rs. 2.25 Arba. Net interest income witnessed a marginal dip of 12.02% settling at Rs. 17.89 Crores as opposed to Rs. 20.33 Crores in the same quarter of the preceding year. Concurrently, there was a noteworthy 68.99% reduction in impairment charges for the period.
As of this quarter, LLBS exhibits with a paid-up capital of Rs. 44.16 Crores, complemented by retained earnings of Rs. 1.47 Crores and a reserve and surplus totaling Rs. 27.38 Crores. The annualized earnings per share (EPS) stands at Rs. 9.75, while the net worth per share is reported at Rs. 165.35. However, the institution grappled with a notable challenge as Non-Performing Loans (NPL) registered a significant increase of 68.36%, reaching 9.63%.
Major Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | Laxmi Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 441,662.10 | 441,662.10* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 14,773.01 | 17,469.25* | -15.43% |
| Reserves | 273,831.51 | 270,007.88* | 1.42% |
| Borrowings | 3,978,545.71 | 2,512,628.18* | 58.34% |
| Deposits from Customers | 2,251,039.29 | 2,324,455.61* | -3.16% |
| Loans and Advances to Customers | 6,709,147.72 | 5,806,749.19* | 15.54% |
| Net Interest Income | 178,939.11 | 203,392.58 | -12.02% |
| Personnel Expenses | 147,226.80 | 148,035.65 | -0.55% |
| Impairment Charges | 25,352.61 | 81,759.78 | -68.99% |
| Operating Profit | 30,442.47 | -24,078.04 | - |
| Net Profit | 21,522.92 | -24,010.00 | - |
| Capital Adequacy (%) | 8.22 | 11.38 | -27.77% |
| NPL (%) | 9.63 | 5.72 | 68.36% |
| Cost of Fund (%) | 9.67 | 9.73 | -0.62% |
| Annualized EPS (In Rs.) | 9.75 | -10.87 | - |
| Net Worth per Share (In Rs.) | 165.35 | 165.09 | 0.15% |
| Qtr end PE Ratio (times) | 98.29 | - | - |
| Qtr End Market Price | 958.00 | - | - |
