NADEP Laghubitta Reports Drastic Decline in Q1 Financials with Net Profit Plummeting by 95.83%; NPL at 6.65%
Wed, Nov 8, 2023 7:53 AM on Financial Analysis, Company Analysis, Latest,
Nadep Laghubitta Bittiya Sanstha Limited (NADEP) released its unaudited financial report for the first quarter of FY-80/81, revealing a notable downturn in its financial performance across various key metrics.
The microfinance institution recorded a substantial 95.83% decrease in net profit, with earnings plummeting to Rs. 5.10 Lakhs in the current quarter, a sharp contrast to the preceding quarter's profit of Rs. 1.22 Crores.
Operating profit faced a significant decline, registering a staggering 106.29% decrease to reach Rs. 13.76 Lakhs in the quarter. Similarly, the company's Net Interest Income experienced a decline from Rs. 7.14 Crores to Rs. 5.19 Crores in the relevant quarter.
The financial overview showcases a nuanced picture of the company's monetary movements. NADEP accumulated Rs. 1.76 Arba from deposits and held borrowings amounting to Rs. 2.38 Arba. During the first quarter, the company disbursed Rs. 5.24 Arba in the form of loans and advances.
NADEP's capital structure displays a paid-up capital of Rs. 48.5 crore, alongside reserves and surplus amounting to Rs. 28.49 crore. Despite this, the microfinance institution observed a notable decline in Annualized Earnings Per Share (EPS) to Rs. 0.42, marking a 95.83% decrease compared to the previous year's Q1 performance. Non-Performing Loans (NPL) experienced a spike, reaching 6.65%.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | NADEP Laghubitta | ||
|---|---|---|---|
| Q1 2080/81 | Q1 2079/80 | Difference | |
| Paid Up Capital | 485,760.00 | 485,760.00* | 0.00% |
| Reserves & Surplus | 284,916.97 | 241,604.81* | 17.93% |
| Retained Earnings | 120,958.36 | 188,157.57* | -35.71% |
| Borrowings | 2,384,392.66 | 2,212,722.76* | 7.76% |
| Deposits from Customers | 1,768,817.38 | 1,805,701.13* | -2.04% |
| Loans and Advances to Customers | 5,244,402.83 | 5,309,000.45* | -1.22% |
| Net Interest Income | 51,922.77 | 71,402.04 | -27.28% |
| Personal Expenses | 62,813.97 | 72,690.44 | -13.59% |
| Impairment Charges | -7,975.26 | -26,268.95 | -69.64% |
| Operating Profit | -1,376.08 | 21,878.89 | -106.29% |
| Net Profit | 510.18 | 12,246.86 | -95.83% |
| Capital Adequacy (%) | 10.77 | 12.33 | -12.65% |
| NPL (%) | 6.56 | 4.97 | 31.99% |
| Cost of Fund (%) | 10.90 | 11.32 | -3.71% |
| Annualized EPS (In Rs.) | 0.42 | 10.08 | -95.83% |
| Net Worth per Share (In Rs.) | 183.55 | 188.47 | -2.61% |
| Qtr end PE Ratio (times) | 1192.54 | - | - |
| Qtr End Market Price | 501.00 | - | - |
