Sadhana Laghubitta Achieves Stellar Q3 Results: Net Profit Skyrockets 365.85% on Decrease in Impairment Charges and Core Revenue Surge
Fri, May 3, 2024 8:47 AM on Financial Analysis, Company Analysis, Latest,
In its recently disclosed third-quarter report for the fiscal year 2080/2081, Sadhana Laghubitta Bittiya Sanstha Limited (SDLBSL) demonstrated notable financial prowess, showcasing a remarkable 365.85% surge in net profit, escalating to Rs. 6.12 crores from Rs. 1.31 crores compared to the corresponding quarter of the previous year.
The company's robust performance was underscored by a significant 25.90% increase in core revenue (net interest income), which reached Rs. 21.24 crores from Rs. 16.87 crores in the previous year's same quarter, significantly bolstering net profits.
Furthermore, SDLBSL witnessed positive trends in its deposit and loan portfolios, with deposits registering a 6.46% incline to Rs. 1.36 Arba, and loans and advances experiencing an 8.76% uptick, totaling Rs. 5.53 Arba during the quarter.
During Q3, SDLBSL reported a notable decrease in impairment charges, amounting to Rs. 7.23 lakhs, reflecting a substantial decline of 97.20%. This reduction played a pivotal role in driving the surge in net profit for the period.
In terms of financial position, SDLBSL showcased a paid-up capital of Rs. 38.22 Crores, supplemented by reserves and surplus standing at Rs. 17.59 crores and retained earnings of Rs. 78.62 lakhs.
The annualized earnings per share (EPS) stood impressively at Rs. 21.35, accompanied by a net worth per share recorded as Rs. 148.08. SDLBSL's performance also garnered attention with a P/E multiple of 34.42 times during the period.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Sadhana Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 382,258.35 | 382,258.35* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 7,862.69 | -14,096.04* | - |
| Reserves | 175,936.90 | 137,880.41* | 27.60% |
| Deposits | 1,366,770.81 | 1,283,785.34* | 6.46% |
| Loans & Advances to Customers | 5,533,509.76 | 5,088,028.14* | 8.76% |
| Net Interest Income | 212,418.48 | 168,717.96 | 25.90% |
| Personnel Expenses | 121,237.36 | 118,472.04 | 2.33% |
| Impairment Charges | 723.19 | 25,815.10 | -97.20% |
| Operating Profit | 87,455.25 | 18,773.43 | 365.85% |
| Net Profit | 61,218.67 | 13,141.40 | 365.85% |
| Distributable Profit | 21,958.73 | 0.00 | - |
| Capital Adequacy (%) | 8.50 | 9.15 | -7.10% |
| NPL (%) | 4.10 | 3.77 | 8.75% |
| Cost of Fund (%) | 9.90 | 11.52 | -14.06% |
| EPS (In Rs.) | 21.35 | 4.58 | 365.85% |
| Net Worth per Share (In Rs.) | 148.08 | 132.38 | 11.86% |
| Qtr end PE Ratio (times) | 34.42 | - | - |
| Qtr End Market Price | 735 | - | - |
