Ghodighoda Laghubitta publishes first quarterly report; Increment in loans and deposit amount; Cost of Fund decreases
Mon, Nov 9, 2020 9:06 AM on Latest, Company Analysis,
Ghodighoda Laghubitta Bittiya Sanstha Limited (GGBSL) has published its first-quarter report of FY 2077/2078. At the end of the first quarter of the fiscal year 2076/77, the company was at a loss of a little over Rs. 24.87 lakhs. The company now has a net profit of a little over Rs. 5.58 lakhs.
The company’s loans and advances increased by 41.48% to Rs. 33.56 crores in this quarter compared to the corresponding quarter of the previous fiscal year. Similarly, the deposits have also increased to Rs. 4.1 crores which is a growth of 70.97% in this quarter.
The net interest income (core revenue) has increased by 16.05% to Rs. 46.40 lakhs compared to Rs. 39.98 lakhs in the corresponding quarter of the previous year.
The reserve and surplus stood at Rs. 15,630 in this quarter of the fiscal year 2077/78.
The cost of funds for Ghodighoda Laghubitta Bittiya Sanstha Limited is 6.89%. In the corresponding quarter of the previous fiscal year, the cost of funds was 12.33%.
Based on the letter received by Nepal Stock Exchange (NEPSE) on Kartik 21, Ghodighoda Laghubitta and Unique Nepal Laghubitta have signed the merger agreement with each other. Thus, the trading of the former company (GGBSL) will be halted until the merger procedure is complete.
