Nerude Mirmire Laghubitta's Q3 Report: Net Profit Hits Rs. 19.83 Crores, EPS at Rs. 18.92; Distributable Profit Remains Negative
Thu, May 9, 2024 8:06 AM on Financial Analysis, Company Analysis, Latest,
Nerude Mirmire Laghubitta Bittiya Sanstha Limited (NLBBL) has released its financial report for the third quarter of the fiscal year 2080/2081, showcasing a remarkable upsurge in performance. The company revealed a notable 201.76% increase in net profit, soaring to Rs. 19.83 crore from Rs. 6.47 crore in comparison to the same quarter last year.
The report highlights a substantial 161.87% surge in core revenue, particularly in net interest income, which climbed to Rs. 64.05 crore from Rs. 24.46 crore in the corresponding quarter of the previous year.
Deposits rose by 76.24% to Rs. 6.10 Arba, while loans and advances saw an increase of 103.77%, reaching Rs. 20.51 Arba during the third quarter. Similarly, borrowings witnessed an increase of 127.51% to Rs. 11.05 Arba
During Q3, NLBBL recorded impairment charges totaling Rs. 15.7 crores.
Regarding the financial position, NLBBL reported a paid-up capital of Rs. 1.39 Arba, along with negative retained earnings of Rs. 12.9 crores and reserves and surplus amounting to Rs. 1.22 Arba.
The annualized earnings per share (EPS) stood at Rs. 18.92, while the net worth per share was recorded as Rs. 178.58. Notably, NLBBL traded at a P/E multiple of 31.45 times during the period. NLBBL reported a negative distributable profit of Rs. 12.9 Crores.
Earlier, Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) inked a merger deal earlier at a swap ratio of 1: 1, establishing a unified entity named "Nerude Mirmire Laghubitta Bittiya Sanstha Limited." The joint operations officially commenced from Falgun, 2080. Consequently, trading of the company's shares has been suspended since Falgun 30.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Nerude Mirmire Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 1,397,764.55 | 732,000.00* | 90.95% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | -129,079.49 | -81,318.86* | - |
| Reserves | 1,227,400.69 | 647,369.01* | 89.60% |
| Deposits | 6,109,126.37 | 3,466,348.08* | 76.24% |
| Loans & Advances to Customers | 20,516,997.22 | 10,068,806.26* | 103.77% |
| Borrowings | 11,055,365.08 | 4,859,309.99* | 127.51% |
| Net Interest Income | 640,595.43 | 244,627.83 | 161.87% |
| Personnel Expenses | 306,050.01 | 203,996.18 | 50.03% |
| Impairment Charges | 157,038.80 | -3,571.08 | - |
| Operating Profit | 256,272.30 | 93,157.04 | 175.10% |
| Net Profit | 198,307.35 | 65,717.11 | 201.76% |
| Distributable Profit | -129,079.49 | 0.00 | - |
| Capital Adequacy (%) | 8.27 | 9.34 | -11.46% |
| NPL (%) | 12.69 | 9.78 | 29.75% |
| Cost of Fund (%) | 8.86 | 11.68 | -24.14% |
| EPS (In Rs.) | 18.92 | 11.97 | 58.03% |
| Net Worth per Share (In Rs.) | 178.58 | 177.33 | 0.70% |
| Qtr end PE Ratio (times) | 31.45 | - | - |
| Qtr End Market Price | 595 | - | - |
