Laxmi Sunrise Bank Limited Reports 32.79% Increase in Q4 Net Profit Driven by Doubling Net Interest Income; EPS at Rs. 13.09
Mon, Aug 5, 2024 8:27 AM on Latest, Financial Analysis, Company Analysis,
Laxmi Sunrise Bank Limited (LSL) has released its financial report for the fourth quarter of the fiscal year 2080/81, showing a 32.79% increase in net profit, amounting to Rs 3.03 Arba.
As of the end of this fiscal period, the bank's total paid-up capital stands at Rs 23.18 Arba, with reserves of Rs 16.28 Arba and retained earnings of Rs 1.28 Crores. The bank's total deposits rose by 11.03% to Rs 32.89 Kharba, while loans and advances to customers reached Rs 25.03 Arba.
Net Interest Income more than doubled, with a 103.97% increase, reaching Rs 11.59 Arba. Personnel expenses totaled Rs 4.25 Arba, and impairment charges surged by 222.34%, standing at Rs 3.41 Arba.
Key financial metrics for the fourth quarter include an Earnings Per Share (EPS) of Rs 13.09 and a net worth per share of Rs 175.80. The bank faced an increase in Non-Performing Loans (NPL) to 4.72%. Additionally, LSL disclosed a distributable profit of Rs 1.28 Arba.
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Laxmi Sunrise Bank Limited | ||
|---|---|---|---|
| Q4 2080/81 | Q4 2079/80 | Difference | |
| Paid Up Capital | 23,187,155.00 | 21,670,238.00* | 7.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 1,287,179.00 | 1,728,332.00* | -25.52% |
| Reserves | 16,288,987.00 | 14,826,362.00* | 9.87% |
| Deposits | 328,931,512.00 | 296,243,475.00* | 11.03% |
| Loans & Advances | 250,365,316.00 | 247,870,138.00* | 1.01% |
| Net Interest Income | 11,598,891.00 | 5,686,691.00 | 103.97% |
| Personnel Expenses | 4,254,680.00 | 1,884,059.00 | 125.83% |
| Impairment Charges | 3,419,046.00 | 1,060,700.00 | 222.34% |
| Operating Profit | 4,454,981.00 | 3,276,036.00 | 35.99% |
| Net Profit | 3,034,539.00 | 2,285,239.00 | 32.79% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,287,179.00 | 1,728,332.00 | -25.52% |
| Capital Adequacy (%) | 13.11 | 13.21 | -0.76% |
| NPL (%) | 4.72 | 2.91 | 62.20% |
| Cost of Fund (%) | 6.11 | 8.38 | -27.09% |
| EPS (In Rs.) | 13.09 | 10.55 | 24.10% |
| Net Worth per Share (In Rs.) | 175.80 | 176.39 | -0.34% |
| Qtr end PE Ratio (times) | 13.37 | ||
| Qtr End Market Price | 175 | - | |
