RSDC Laghubitta Q2 Net Profit Dips 12.73% to Rs. 6.93 Crores; Records Growth in Borrowings Amid Decline in Net Interest Income
Thu, Jan 18, 2024 8:38 AM on Financial Analysis, Company Analysis, Latest,
In the recently released second-quarter report for the fiscal year 2080/2081, RSDC Laghubitta Bittiya Sanstha (RSDC) has reported a 12.73% decrease in net profit. The figures show a decline from Rs. 7.94 crores in the corresponding quarter of the previous year to Rs. 6.93 crores.
Simultaneously, the company's borrowings experienced a notable increase of 12.89%, reaching Rs. 6.01 Arba compared to Rs. 5.32 Arba in the same quarter of the previous year. Loans and advances to cooperatives also exhibited a growth of 5.77%, totaling Rs. 6.64 Arba in this quarter.
The core revenue, represented by net interest income, witnessed a decline of 17.32%, falling to Rs. 12.2 crores from Rs. 14.75 crores in the corresponding quarter of the previous year.
During the second quarter, impairment charges showed a substantial reduction of 81.75%, amounting to Rs. 41.74 Lakhs. However, the non-performing loan (NPL) ratio increased from 0.81% to 1.82%.
The paid-up capital for the company stood at Rs. 86.95 crores in this quarter, with reserves and surplus at Rs. 12.10 crores.
The annualized earnings per share (EPS) is reported at Rs. 15.94, and the net worth per share is recorded as Rs. 131.10. RSDC traded at a P/E multiple of 36.07 times during the period
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | RSDC Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 869,568.20 | 805,155.74* | 8.00% |
| Retained Earnings | 148,608.89 | 151,857.35* | -2.14% |
| Reserves | 121,087.49 | 109,397.79* | 10.69% |
| Borrowings | 6,015,025.39 | 5,328,150.93* | 12.89% |
| Loans and Advances to Co-operatives | 6,645,752.70 | 6,283,483.67* | 5.77% |
| Net Interest Income | 122,011.52 | 147,563.22 | -17.32% |
| Personnel Expenses | 21,211.21 | 22,332.86 | -5.02% |
| Impairment Charges | 4,174.76 | 22,879.11 | -81.75% |
| Operating Profit | 99,006.17 | 113,449.46 | -12.73% |
| Net Profit | 69,304.32 | 79,414.62 | -12.73% |
| Capital Adequacy (%) | 15.44 | 17.52 | -11.87% |
| NPL (%) | 1.82 | 0.81 | 124.69% |
| Cost of Fund (%) | 11.08 | 12.34 | -10.21% |
| Annualized EPS (In Rs.) | 15.94 | 19.73 | -19.20% |
| Net Worth per Share (In Rs.) | 131.01 | 132.45 | -1.08% |
| Qtr end PE Ratio (times) | 36.07 | - | - |
| Qtr End Market Price | 575.00 | - | - |
