Laxmi Laghubitta Q1 earning surges by staggering 140.78% to Rs 2.48 crore; EPS stand at Rs 90.45; right share extended till Kartik 23

Laxmi Laghubitta Bikas Bank Limited (LLBS) has reported 140.78% growth in net profit for the first quarter of the current fiscal year 2073/74. Publishing the unaudited financial report for the first quarter today, the microfinance company has stated that its net profit rose to Rs 2.48 crore in first quarter of fiscal year 2073/74 up from Rs 1.03 crore reported in the corresponding quarter of the previous fiscal year 2072/73. The microfinance has borrowings of Rs 1.09 arba in the 1^st quarter compared to Rs 63.46 crore in the corresponding quarter last year. Likewise, it extended loans of Rs 1.59 arba, up from Rs 89.03 crore.  It has collected deposits of Rs 45.38 crore. It has paid up capital of Rs 11 crore with reserve of Rs 9.57 crore in Q1. After 100% right share, the company’s paid up capital remains at 22 crore. Laxmi Laghubitta’s net interest income has risen from Rs 3.05 crore in the corresponding quarter last year to Rs 5.54 crore in the first quarter of fiscal year 2073/74. It has posted an operating profit of Rs 3.90 crore in Q1 up from Rs 1.62 crore in corresponding quarter. The microfinance non-performing loan (NPL) has declined from 1.09% in the corresponding quarter to 0.30 % in Q1. Its Earning per Share (EPS) now stands at Rs 90.45 (before the adjustment of right share), net worth per share at Rs 187.05 and P/E ratio at 19.10 times. In addition, Laxmi Laghubitta has extended the closing date of 100% right share. The closing date for the right share was set on Kartik 18, 2073 (yesterday). The deadline has been extended to Kartik 23, 2073. Issuing a notice today, the microfinance company stated that shareholders had inconvenience filling the right share applications due to the long holidays in between of Dashain , Tihar and Chhath. So the deadline has been extended. Laxmi Laghgubitta will be issuing a total of 11, 00,000 unit right shares at the face value of Rs 100. The book closure date for 100% right issue was set for Bhadra 26, 2073. Only the shares registered one day ahead of the book closure date i.e. Bhadra 23, 2073 are eligible for the right shares. NMB Capital Limited is assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NMB Capital Limited, Naksal, Kathmandu, all branch offices of NMB Bank Limited and Laxmi Laghubitta. After the adjustment of the rights shares, the microfinance total paid-up capital will reach to Rs 22 crore from existing Rs 11 crore. The microfinance has authorized capital of Rs 40 crore. Its public-promoter share structure stands at 70:30 ratio.