Grameen Swayansewak Laghubitta posts net profit of Rs.33.19 Lakhs by the end of first quarter; company yet to issue IPO

Grameen Swayamsewak Laghubitta Bittiya Sanstha Limited has posted a net profit of Rs.33.19 Lakhs in the unaudited first quarter report for the fiscal year 76/77 compared to previous years Rs.8.74 Lakhs. The profits grew by 279.72%.

The young microfinance company posted net interest income of Rs.1.46 Crore and total operating income of Rs.2.07 Crore by the end of the first quarter of FY 76/77.

The company has collected deposits worth Rs.27.83 Crore while it has issued loans worth Rs.68.74 Crore till the month of Ashwin. As of the end of the first quarter, the borrowings of the company stands at Rs.41.95 Crore.

As per the fourth quarter report, the paid up capital of the company stands at Rs.4.20 Crore with Rs.58.31 Lakhs as reserves. The company is yet to issue IPO to the general public.

The non-performing loans of the microfinance company increased to 1.07% from 0.95% in the corresponding quarter of the previous year. The annualized EPS stood at Rs.7.90 and net worth per share stood at Rs.100. The P/E ratio was reported at 12.65 times till the end of the first quarter.