Support Laghubitta's Q2 Report for FY 2080/81: Net Profit Soars by 246.82% Despite Dip in Core Revenue
Fri, Jan 26, 2024 10:43 AM on Financial Analysis, Company Analysis, Latest,
In the recently released Q2 report for the fiscal year 2080/2081, Support Laghubitta Bittiya Sanstha Limited (SMB) showcased impressive financial performance with a 246.82% surge in net profit, rising from Rs. 24.91 lakhs to Rs. 86.42 lakhs compared to the same quarter last year.
Despite a 5.39% dip in core revenue (net interest income) to Rs. 2.93 crores from Rs. 3.1 crores in the corresponding quarter of the previous year, SMB experienced notable growth in net profits.
Borrowings increased by 29.14% to Rs. 1.28 Arba. Loans and advances also saw a 24.51% uptick, reaching Rs. 1.7 Arba in this quarter.
During Q2, the company reported impairment charges of Rs. 8.47 Lakhs, but the non-performing loan (NPL) ratio decreased from 3.53% to 1.54%.
SMB's paid-up capital stood at Rs. 9.52 crores, with reserves and surplus at Rs. 5.4 crores. The annualized earnings per share (EPS) was Rs. 18.15, and the net worth per share recorded as Rs. 156.79. SMB traded at a P/E multiple of 55.49 times during the period.
| Particulars (In Rs '000) | Support Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 95,238.00 | 85,800.00 | 11.00% |
| Reserves | 54,086.10 | 53,905.15 | 0.34% |
| Borrowings | 1,284,141.22 | 994,394.24 | 29.14% |
| Deposits | 324,355.99 | 285,428.26 | 13.64% |
| Loans and Advances | 1,702,015.33 | 1,367,008.11 | 24.51% |
| Net Interest Income | 29,386.37 | 31,060.39 | -5.39% |
| Impairment Charges | 847.79 | 0.00 | - |
| Operating Profit | 7,204.32 | 3,369.54 | 113.81% |
| Net Profit | 8,642.31 | 2,491.85 | 246.82% |
| Capital Adequacy (%) | 8.30 | 9.40 | -11.70% |
| NPL (%) | 1.54 | 3.53 | -56.37% |
| Cost of Fund (%) | 10.95 | 9.55 | 14.66% |
| Annualized EPS (In Rs.) | 18.15 | 5.81 | 212.45% |
| Net Worth per Share (In Rs.) | 156.79 | 162.83 | -3.71% |
| Qtr end PE Ratio (times) | 55.49 | - | - |
| Qtr End Market Price | 1007.10 | - | - |
