Mithila Laghubitta posts 29% rise in net profit and 28% decline in NPL; Annualized EPS till Q1 2076/77 at Rs 18.60

Sun, Nov 10, 2019 12:04 PM on Financial Analysis, Latest, Stock Market,

Mithila Laghubitta Bikas Bank (MLBBL) has posted considerable growth in its net profit by 29.63% in the first quarter of the current fiscal year 2076/77.

As per the unaudited financial report published today, the microfinance company has stated that its net profit has increased to Rs 46.02 lakh in Q1 of the FY 2076/77 from Rs 35.50 lakhs of the corresponding quarter.

Its net interest income has increased by 42.60% to Rs 1.88 crore and its provision for possible losses has decreased to Rs 28.39 lakhs.

It has a total deposit of Rs 28.17 crore and has floated loans of Rs 1.02 arba. In the first quarter, the borrowings amounted to Rs 72.32 crore. It has a paid-up capital of Rs 9.89 crore and Rs 6.34 crore in the reserve.

Its NPL stands at 2.52% declining from 3.5% in the corresponding quarter. Its annualized EPS stands at Rs 18.60 and Net worth per share is Rs 164.16. The P/E Ratio stands at 23.82 times.

First Quarter Report

Major highlights

Particulars (In Rs '000) Mithila Laghubitta
Q1 2076/77 Q1 2075/76 Difference
Paid Up Capital 98,966 65,977 50.00%
Reserve & Surplus 63,498 25,873 145.42%
Borrowings 723,249 429,982 68.20%
Deposits 281,759 191,025 47.50%
Loans & Advances 1,025,984 674,952 52.01%
Net Interest Income 18,805 13,187 42.60%
Staff Expenses 11,176 7,335 52.37%
Provision for possible losses 2,839 3,791 -25.11%
Operating Profit 7,184 4,718 52.27%
Net Profit 4,602 3,550 29.63%
Capital Adequacy (%) 15.08 11.85 27.26%
NPL (%) 2.52 3.5 -28.00%
Cost of Fund (%) 10.66 9.81 8.66%
Annualized EPS (In Rs.) 18.60 21.52 -13.58%
Net Worth per Share (In Rs.) 164.16    
PE Ratio (times) 23.82