Lumbini Finance profit decline in Q1, NPA at 13.12%

ShareSansar, November 21:

Publishing the unaudited financial quarterly report today, Lumbini Finance Limited (LFLC) stated that it’s earned Rs 88.72 lakh, down from Rs 1.23 crore in the corresponding period of the previous fiscal year 2070/71.

Net interest income of the finance is in negative by Rs 84 thousand, which clearly shows company cost of fund is higher and they are unable to utilize their fund at the higher rate.

The finance able to collect Rs 1.99 arba in deposits and extended a total loan of Rs 1.81 arba in this fiscal year compared to Rs 1.98 arba deposits and Rs 1.63 arba loans in the previous fiscal year.

It has able to write back Rs 1.59 crore from the provision account.

The finance NPA is above standard level at 13.12%, which clearly shows that the finance bad loans are increasing like never before.

Lumbini Finance annualized EPS is at Re 19.07 and its net worth per share at Rs 174.90.