Lalitpur Finance Limited publishes net profit of Rs.4 Crore till second quarter end; NPL increases to 85.26%

Thu, Feb 13, 2020 1:10 PM on Financial Analysis, Latest,
Lalitpur F...

Lalitpur Finance Limited (LFC) has reported a net profit until the second quarter of the current fiscal year 2076/77.

Publishing the unaudited financial report for the second quarter (Q2) today, the finance company has stated that its net profit stands at Rs.4 Crore in Q2 of FY 76/77 up from net loss of Rs.3.33 Crore reported in the corresponding quarter of the previous FY 75/76.

It has paid up capital of Rs.23.68 Crore. However, it has a negative retained earnings of Rs.18.87 Crore and reserves of Rs.13.68 Crore till Q2. It extended loans of Rs.10.33 Crore, down from Rs.13.93 Crore. Likewise, the collected deposit of the company is Rs.25.44 Crore in the second quarter of the current fiscal year.

The company’s non-performing loan (NPL) has increased from 69.44% in the corresponding quarter to 85.26% in Q2. The annualized Earning per Share (EPS) now stands at Rs.32.51 and net worth per share at Rs.78.09. The PE Ratio was reported at 3.87 times.

The company is in acquisition process by Prime Commercial Bank Limited.