Unique Nepal Laghubitta Q2 Net Profit Surges by 118.82% Yet Core Revenue Declines; NPL Rises to 9.92%
Fri, Feb 2, 2024 6:23 AM on Financial Analysis, Company Analysis, Latest,
Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) has reported a noteworthy surge in net profit, marking a remarkable 118.82% increase in the second quarter of FY 2080/2081. The microfinance institution disclosed a net profit of Rs. 3.32 Crores, demonstrating substantial growth from Rs. 1.51 Crore in the corresponding quarter of the preceding year.
Despite a 2.19% reduction in loans and advances, UNLB witnessed a 1.62% upswing in deposits, reaching Rs. 2.54 Arba. Notably, the company's net interest income, or core revenue, experienced a marginal dip of 11.83%, settling at Rs. 11.81 Crores compared to Rs. 13.4 Crores in the same quarter of the previous year. Concurrently, impairment charges for the period saw a significant decline of 53.77%.
As of this quarter, the paid-up capital of UNLB stands at Rs. 14.85 Crores, with retained earnings at Rs. 15.26 Crores and a reserve and surplus amounting to Rs. 18.25 Crores. The annualized earnings per share (EPS) impressively stands at Rs. 44.73, while the net worth per share is reported at Rs. 325.64. Trading at a P/E multiple of 24.97 times, the company grappled with a notable increase in Non-Performing Loans (NPL) by 34.60%, reaching 9.92%.
Major Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | Unique Nepal Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 148,575.00 | 148,575.00 | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 152,689.93 | 152,689.93 | 0.00% |
| Reserves & Surplus | 182,551.95 | 152,163.97 | 19.97% |
| Borrowings | 30,000.00 | 30,000.00 | 0.00% |
| Deposits from Customers | 2,548,732.45 | 2,508,073.19 | 1.62% |
| Loans and Advances to Customers | 3,415,341.08 | 3,491,954.67 | -2.19% |
| Net Interest Income | 118,177.41 | 134,033.68 | -11.83% |
| Personnel Expenses | 53,734.36 | 51,021.43 | 5.32% |
| Impairment Charges | 39,973.82 | 86,463.15 | -53.77% |
| Operating Profit | 45,997.81 | 19,948.95 | 130.58% |
| Net Profit | 33,226.77 | 15,184.70 | 118.82% |
| Capital Adequacy (%) | 10.90 | 9.44 | 15.47% |
| NPL (%) | 9.92 | 7.37 | 34.60% |
| Cost of Fund (%) | 9.04 | 8.70 | 3.91% |
| Annualized EPS (In Rs.) | 44.73 | 20.44 | 118.82% |
| Net Worth per Share (In Rs.) | 325.64 | 305.19 | 6.70% |
| Qtr end PE Ratio (times) | 24.97 | - | - |
| Qtr End Market Price | 1117.00 | - | - |
