Mahuli Samudayik Laghubitta reports 14% increment in Net profit in the second quarter; Mirmire Laghubitta’s EPS stands at Rs 34.19 with 20% rise in profit

Mahuli Samudayik Laghubitta Bittiya Sanstha Limited (MSLB) has posted an increase in net profit by 14.65% to Rs 2.02 crore in the second quarter (Q2) of fiscal year 2075/76.

Publishing the unaudited financial report for the second quarter today, the microfinance institution has stated that its operating profit also increased to Rs 2.99 crore in Q2 from Rs 2.72 crore in the corresponding quarter of the last fiscal year.

The microfinance institution’s borrowing remains to be Rs 77.70 crore and has collected Rs 79.13 crore in deposits.

Likewise, it has extended loans and advances of Rs 1.73 arba in Q2 of FY 2075/76 whereas in the same period last year the figure stood at Rs. 1.36 arba.

It has a paid up capital of Rs 7.20 crore has Rs 16.24 crore in reserve and surplus.

Its non- performing loan (NPL) decreased to 1.74% in Q2 from 1.85% in the second quarter of the last fiscal year.

MSLB’s earning per share (EPS) has decreased to Rs 56.35 in Q2 from Rs 58.98 in the previous year. Its net worth per share stands at Rs 325.57 and P/E ratio at 46.5 times.

Recently, the company had floated 50% right share of worth Rs 3 crore. Its paid up capial after allotment of shares will be Rs 10.2 crore. 

Major Highlights:

Mirmire Laghubitta Bittiya Sanstha (MMFDB) has published the unaudited financial report for the second quarter of FY 75/76.

The Paid up capital of the microfinance company has increased from Rs.4.5 Crore to Rs.10.38 Crore marking a rise of 130% compared to the corresponding quarter of the previous year. The reserves have sharply increased by 195.47% to Rs.8.78 Crore from Rs.2.97 Crore last year. The borrowings of the company have grown by more than 70% to Rs.1.44 Arba.

The deposits stand at Rs.58.16 Crore, increased by 99.69% while the Loans stand at Rs.2.08 Arba, increased by almost 86.50% compared to the corresponding quarter of the previous year. The operating profit has surged by 9.97% to Rs.2.20 crore this quarter while the Net profit has increased by 20.26% to Rs.1.77 crore.

A significant increase in the provision for possible losses can be seen compared to Q2 of FY 74/75. The provision that was at Rs.83.74 Lakhs has increased to Rs.1.42 crore marking an increase of 70.55%. The Non-Performing Loans that were at 1.18% previous year have fallen to 0.71% this quarter.

The EPS of the company stands at Rs.34.19, falling by 47.90% and the Net worth per share stands at Rs.184.57 increasing by 11.15%. The P/E Ratio stands at 28.95 times in the second quarter of the current fiscal year.

MMFDB had declared 24% bonus share from the profit of 74/75 FY. The total paid up capital after the adjustment of bonus share will reach Rs 12.87 crores.

Highlights: