Rise in Core Business Income Results an Impressive 62.34% Rise in Net Profit of RSDC Laghubitta in Q2; NPL at 0.81% and EPS Stands at Rs 19.73
Thu, Jan 19, 2023 11:18 AM on Latest, Financial Analysis, Stock Market,
RSDC Laghubitta Bittiya Sanstha (RSDC) has published its second-quarter report of FY 2079/2080 with an increase in Net Profit by a impressive of 62.34%. As per the report published by the company, the net profit increased to Rs. 7.94 crores as compared to Rs. 4.89 crores in the corresponding quarter of the previous year.
In the second quarter, the company had Rs 6.58 crores as distributable profit after PL Appropriation and Regulatory Adjustments. This amount can be used to distribute dividends to the shareholders of RSDC Laghubitta. The company also declared a 11% dividend worth Rs. 8.85 Crores for the fiscal year 2078/79. 8% bonus shares and 3% cash dividend (for tax purposes) have been endorsed by the company. However, the bonus dividend is yet to be capitalized in published report (Q2) by the company.
On the other hand, the borrowings of the company increased by 24.03% to Rs. 5.32 Arba which was Rs. 4.29 Arba in the corresponding quarter of the previous year. The company’s loans and advances to co-operatives also increased by 22.06% to Rs. 6.28 Arba in this quarter.
Likewise, the net interest income (core revenue) has increased by 56.34% % to Rs. 14.75 crores compared to Rs. 9.43 crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 80.5 crores in this quarter and its reserve and surplus increased to Rs. 26.12 crores.
Its annualized earnings per share (EPS) stands at Rs. 19.73. The net worth per share stood at Rs. 132.45. The company traded at a P/E multiple of 30.97 times.
Major Financial Highlights
| Particulars (In Rs '000) | RSDC Laghubitta | ||
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 805,155.00 | 805,155.00 | 0.00% |
| Retained Earnings | 151,857.35 | 47,516.70 | 219.59% |
| Reserves | 109,397.79 | 77,769.44 | 40.67% |
| Borrowings | 5,328,150.93 | 4,295,766.76 | 24.03% |
| Loans & Advances to MFIs & Cooperatives | 6,283,483.67 | 5,147,842.93 | 22.06% |
| Net Interest Income | 147,563.22 | 94,383.43 | 56.34% |
| Personnel Expenses | 22,332.86 | 15,263.95 | 46.31% |
| Impairment Charges | 22,879.11 | 18,823.17 | 21.55% |
| Operating Profit | 113,449.46 | 69,648.19 | 62.89% |
| Net Profit | 79,414.62 | 48,919.05 | 62.34% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments (4th Quarter) | 65,887.41 | ||
| Capital Adequacy (%) | 17.52 | 18.50 | -5.30% |
| NPL (%) | 0.81 | 0.28 | |
| Cost of Fund (%) | 12.34 | 9.51 | 29.76% |
| EPS (In Rs.) | 19.73 | 12.15 | 62.34% |
| Net Worth per Share (In Rs.) | 118.86 | 105.90 | 12.24% |
| Qtr end PE Ratio (times) | 30.97 | - | - |
| Qtr End Market Price | 611 | - | - |
