Rise in Impairment Charges & Interest Expenses Results in Net Loss of Rs. 1.18 Crores of Grameen Bikas Laghubitta for Q1; NPL at 4.91%
Mon, Nov 7, 2022 3:54 PM on Latest, Financial Analysis, Stock Market,
Grameen Bikas Laghubitta Bittiya Sanstha Limited (GBLBS) published the first-quarter report of FY 2079/2080 with a net loss of 1.18 Crores. In the relevant quarter of the previous year, the company generated a net profit of Rs. 9.20 Crores.
The negative net profit is mainly due to the huge rise in provision for possible loss which has increased to Rs. 1.34 Arba, as against 3.89 Crores in the previous year’s Q1. Likewise, increase in interest expenses by 36.40% has also affected the profitability of the company for this period. The company had reversal/write-back of provision for losses of Rs. 1.30 Arba.
The net interest income (core revenue) has decreased by 27.23% to Rs. 21.98 crores compared to Rs. 30.20 crores in the corresponding quarter of the previous year.
Similarly, the borrowings of the company decreased by 9.11% to Rs. 6.38 Arba which was Rs. 7.02 Arba in the corresponding quarter of the previous year. The deposits of the company decreased by 1.58% to Rs 3.78 arba. The company’s loans and advances also decreased by 2.56% to 13.24 Arba in this quarter.
The paid-up capital of the company stood at Rs. 98.25 crores in this quarter and its reserve and surplus stood at Rs. 1.27 Arba which is an increase of 15.44% in this quarter.
The company's non-performing loans stand at 4.91% till this quarter which was 3.25% in the corresponding quarter.
Its annualized earnings per share (EPS) stands at Rs. -4.28. The net worth per share is Rs. 230.07. The company traded at a P/E multiple of -124.9 times.
Major Highlights:
| Particulars (In Rs '000) | Grameen Bikas Laghubitta Bittiya Sanstha | ||
|---|---|---|---|
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 982,500 | 982,500 | 0.00% |
| Reserve & Surplus | 1,277,925 | 1,107,051 | 15.44% |
| Deposits | 3,788,980 | 3,849,789 | -1.58% |
| Borrowings | 6,381,338 | 7,021,050 | -9.11% |
| Loans & Advances | 13,245,125 | 13,592,690 | -2.56% |
| Interest Expenses | 239,201 | 175,364 | 36.40% |
| Net Interest Income | 219,824 | 302,062 | -27.23% |
| Provision for possible losses | 1,348,073 | 38,996 | 3356.95% |
| Write Back Provision for Possible loss | 1,303,123 | 9,291 | 13925.65% |
| Operating Profit | -1,314,958 | 135,431 | -1070.94% |
| Net Profit | -11,835 | 92,096 | -112.85% |
| Capital Adequacy (%) | 11.48 | 10.89 | 5.42% |
| NPL (%) | 4.91 | 3.25 | 51.08% |
| Annualized EPS (In Rs.) | -4.82 | 37.49 | -112.85% |
| Net Worth per Share (In Rs.) | 230.07 | 212.68 | 8.18% |
| PE Ratio (times) | -124.9 | - | - |
| Qtr End Market Price | 602 | ||
