National Laghubitta Posts 57.89% Net Profit Growth Despite Surge in Impairment Charges; Net Interest Income Up 75.56%
Fri, Aug 9, 2024 8:43 AM on Financial Analysis, Company Analysis, Latest,
National Laghubitta Bittiya Sanstha Limited (NMFBS) has reported an impressive financial performance in its recently disclosed fourth-quarter report for the fiscal year 2080/2081, showcasing a substantial 57.89% increase in net profit. The company’s net profit surged to Rs. 34.09 crores, up from Rs. 21.59 crores in the corresponding quarter of the previous year.
NMFBS experienced a significant 75.56% growth in core revenue (net interest income), which rose to Rs. 1.15 Arba. Deposits also saw a healthy increase of 15.94%, reaching Rs. 5.24 Arba, while loans and advances expanded by 23.18%, totaling Rs. 20.63 Arba during this quarter.
However, the quarter also witnessed a sharp rise in impairment charges, which increased dramatically by 2500.48%, amounting to Rs. 22.75 crores.
The company’s financial position at the end of the quarter reflected a paid-up capital of Rs. 1.16 Arba, reserves and surplus of Rs. 1.41 Arba, and retained earnings amounting to Rs. 28.11 crores.
NMFBS reported an annualized earnings per share (EPS) of Rs. 29.25, with a net worth per share of Rs. 245.90. During this period, the company traded at a P/E multiple of 48.17 times.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | National Laghubitta | ||
|---|---|---|---|
| Q4 2080/81 | Q4 2079/80 | Difference | |
| Paid Up Capital | 1,165,522.00 | 1,084,206.00* | 7.50% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 281,112.00 | 303,948.00* | -7.51% |
| Reserves | 1,419,357.00 | 1,255,338.00* | 13.07% |
| Deposits | 5,245,133.00 | 4,523,950.00* | 15.94% |
| Loans & Advances to Customers | 20,637,471.00 | 16,753,433.00* | 23.18% |
| Borrowings | 13,199,486.00 | 9,871,371.00* | 33.71% |
| Net Interest Income | 1,158,666.00 | 659,978.00 | 75.56% |
| Personnel Expenses | 538,710.00 | 296,042.00 | 81.97% |
| Impairment Charges | 227,542.00 | 8,750.00 | 2500.48% |
| Operating Profit | 471,661.00 | 310,583.00 | 51.86% |
| Net Profit | 340,929.00 | 215,931.00 | 57.89% |
| Distributable Profit | 281,112.00 | 0.00 | - |
| Capital Adequacy (%) | 11.30 | 11.34 | -0.35% |
| NPL (%) | 3.25 | 3.53 | -7.93% |
| Cost of Fund (%) | 9.58 | 11.17 | -14.23% |
| EPS (In Rs.) | 29.25 | 19.92 | 46.87% |
| Net Worth per Share (In Rs.) | 245.90 | 243.82 | 0.85% |
| Qtr end PE Ratio (times) | 48.17 | - | - |
| Qtr End Market Price | 1409 | - | - |
