Lalitpur Finance reports decline in net profit by 41.59%; EPS also declined to Rs 30.64

Lalitpur Finance Limited (LFC) has reported decline in net profit for the second quarter of the current fiscal year 2074/75.

Publishing the unaudited financial report for the second quarter today, the finance company has stated that its net profit decreased to Rs 5.44 crore in second quarter of fiscal year 2074/735 down from Rs 9.31 crore reported in the corresponding quarter of the previous fiscal year 2073/74.

It extended loans of Rs 33.95 crore, from Rs 46.63 crore.  It has collected deposits of Rs 16 .87 crore in the second quarter of the current fiscal year.

It has paid up capital of Rs 23.68 crore. However, it has negative reserve of Rs 9.07 crore in Q2.

LFC’s net interest income has also decreased from Rs 1.13 crore in the corresponding quarter last year to Rs 23.79 lakh in the second quarter of fiscal year 2074/75.

It has posted an operating loss of Rs 31.64 lakh in Q2 declining from the operating profit of Rs 40.21 lakh in corresponding quarter.

The company’s non-performing loan (NPL) has slightly increased from 89.19% in the corresponding quarter to94.42% in Q2.

Its Earning per Share (EPS) now stands at Rs 30.64, net worth per share at Rs 61.70 and P/E ratio at 5.74 times.

Major Highlights:

See the report here