Exceptional profit growth reported by Nagbeli Laghubitta till Q1 end; EPS and net worth per share increase to Rs.22.75 and Rs.177.31 respectively

Nagbeli Laghubitta Bikas Bank Limited (NBBL) has reported 142.13% increase in net profit in the first quarter of the fiscal year 2076/77.

According to the unaudited financial report for the first quarter published today, the microfinance has stated that its net profit increased to Rs.95.39 Lakhs in this quarter as compared to Rs.39.39 Lakhs in the corresponding quarter of the last fiscal year 2075/76.

Its deposits have increased to reach Rs.34.85 Crore in the Q1 of the FY 2076/77 from Rs.26.14 Crore in the corresponding quarter of the FY 2075/76. It has floated loans of Rs.1.02 Arba in this quarter and the borrowing of the microfinance has increased by 10.12% from Rs.43.01 Crore in the corresponding quarter of the previous year to Rs.47.36 Crore in the first quarter of current fiscal year.

Its net interest income has increased to Rs.2.84 Crore in this Q1 up from Rs.1.52 Crore compared to the corresponding quarter of the last fiscal year. The microfinance company has an operating profit of Rs.1.49 Crore till the first quarter.

NBBL’s paid-up capital stands at Rs.16.76 Crore and reserve and surplus is Rs.8.60 Crore. The non-performing loans of the company has decreased from 4.09% to 2.06% by the end of the first quarter.

Its annualized EPS stands at Rs.22.75 and net worth per share stands at Rs.177.31 till the end of the first quarter.