Lumbini Finance Q3 profit rises 15.37%, Rising Development falls 70.29%

ShareSansar, May 25:

Lumbini Finance and Leasing Company Limited has posted 15.37% rise in net profit for the third quarter of fiscal year 2071/72. The company’s profit rose to Rs 4.63 crore in the third quarter of the ongoing fiscal year from Rs Rs 4.01 crore reported in fiscal year 2070/71.    

The company’s deposits declined from Rs 1.97 arba reported in the Q3 of 2070/71 to Rs 1.86 arba in the corresponding period this year.

Likewise, the company has extended loans and advances of Rs 1.90 arba as compared to Rs 1.67 arba in the same period last year.

The company’s net interest income fell to Rs 4.85 crore in the Q3 of 2071/72 as against Rs 4.94 crore reported in the same quarter of last year.

The company’s CD ratio stands at 76.51%.

Meanwhile, the company’s non performing loans (NPL) rose slightly to 9.55% from 9.33% in the Q3 of 2070/71.

The company’s net worth per share stands at Rs 183.19 and annualized EPS at Rs 13.42   
Likewise, Rising Development Bank has posted 70.29% decline in net profit for the third quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the third quarter today, the bank has stated that its net profit declined to Rs 1.09 crore from Rs 3.67 crore in the corresponding quarter of the last fiscal year 2070/71.

The bank has mobilized deposits of Rs 1.62 arba in the 3rd quarter compared to Rs 1.38 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 1.46 arba up from Rs 1.25 arba.

Rising Development Bank’s net interest income has slightly declined from Rs 6.75 crore in the corresponding quarter last year to Rs 6.03 crore in the third quarter of 2071/72.

The bank’s NPL has risen from 4.13% in the third quarter of the last fiscal to 6.56 % this year.

Its EPS (annualized) now stands at Rs 6.18, net worth per share at Rs 111.49, and CD ratio at 78.91%.