Janasewi Laghubitta reports 204% rise in net profit for Q1 76/77; NPL rises to 1.71%
Fri, Nov 1, 2019 12:04 PM on Financial Analysis, Latest, Stock Market,
Janasewi Laghubitta Bittiya Sanstha Limited has reported net profit of Rs 63.11 lakh in the first quarter for the FY 2076/77, up from Rs 20.73 lakhs posted in the Q1 of previous year.
The microfinance company has reported net interest income of Rs 1.74 crore with operating profit reported at Rs 1 crore, which were Rs 89.87 lakh and Rs 32.58 lakh respectively in the corresponding quarter of the previous year
The paid-up capital of the company stands at Rs 14.43 crore with reserve and surplus of Rs 2.44 crore.
Till the end of the first quarter, the microfinance company has collected Rs 21.30 crore as deposits and lent out Rs 69.82 crore as loans and advances. The Non-Performing Loan has increased from 1.22% to 1.71% by the end of the first quarter.
The microfinance company is currently under merger process with Kalika Laghubitta Bittiya Sanstha Limited (KMCDB).
Major highlights
| Particulars (In Rs '000) | Janasewi Laghubitta | ||
|---|---|---|---|
| Q1 2076/77 | Q1 2075/76 | Difference | |
| Paid Up Capital | 144,330.00 | 98,000.00 | 47.28% |
| Reserve & Surplus | 24,461.00 | 7,599.00 | 221.90% |
| Borrowings | 378,472.00 | 317,493.00 | 19.21% |
| Deposits | 213,070.00 | 139,094.00 | 53.18% |
| Loans & Advances | 698,257.00 | 486,866.00 | 43.42% |
| Net Interest Income | 17,444.00 | 8,987.00 | 94.10% |
| Staff Expenses | 9,166.00 | 7,566.00 | 21.15% |
| Provision for possible losses | 681.00 | 686.00 | -0.73% |
| Operating Profit | 10,018.00 | 3,258.00 | 207.49% |
| Net Profit | 6,311.00 | 2,073.00 | 204.44% |
| Capital Adequacy (%) | 24.08 | 22.03 | 9.31% |
| NPL (%) | 1.71 | 1.22 | 40.16% |
| Cost of Fund (%) | 10.03 | 10.4 | -3.56% |
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