Mithila Laghubitta Reports 41.51% Net Profit Surge Despite Slight Increase in Impairment Charges in Q3; EPS Rose to Rs. 20.44
Mon, May 6, 2024 10:19 AM on Latest, Financial Analysis, Company Analysis,
Mithila Laghubitta Bittiya Sanstha Limited (MLBBL) has released its third-quarter financial report for the fiscal year 2080/2081, showcasing a commendable 41.51% increase in Net Profit. The company's net profit rose to Rs. 3 crore compared to Rs. 2.1 crores in the same quarter of the previous year.
In terms of financial indicators, MLBBL saw a 16.99% uptick in deposits, reaching Rs. 97.95 Crores. Concurrently, loans and advances experienced an 11.34% growth, totaling 2.62 Arba in this quarter.
Core revenue, represented by net interest income, witnessed a significant 31.53% increase, amounting to Rs. 9.65 Crores compared to Rs. 7.33 Crores in the corresponding quarter of the previous year.
However, the company reported a slight rise of 3.69% in impairment charges, which now stand at Rs. 1.61 crores.
MLBBL's paid-up capital stood at Rs. 19.6 Crores, accompanied by reserves amounting to Rs. 13.6 Crores.
Moreover, there was a decline in the company's Non-Performing Loan (NPL) ratio, which decreased to 3.90% from 4.94%.
MLBBL reported an annualized earnings per share (EPS) of Rs. 20.44 for the third quarter of FY 2080/81, with a net worth per share of Rs. 169.41. Notably, the company traded at a P/E multiple of 48.91 times.
Major Highlights:
| Particulars (In Rs '000) | Mithila Laghubitta | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 196,002.76 | 170,437.18 | 15.00% |
| Reserve & Surplus | 136,036.45 | 136,760.37 | -0.53% |
| Deposits | 979,556.03 | 837,280.49 | 16.99% |
| Borrowings | 1,549,692.72 | 1,393,282.21 | 11.23% |
| Loans & Advances | 2,628,712.37 | 2,361,074.90 | 11.34% |
| Net Interest Income | 96,532.28 | 73,389.19 | 31.53% |
| Staff Expenses | 46,924.97 | 45,308.83 | 3.57% |
| Impairment Charges | 16,136.16 | 15,561.30 | 3.69% |
| Operating Profit | 35,306.99 | 24,468.87 | 44.29% |
| Net Profit | 30,054.38 | 21,238.03 | 41.51% |
| EPS (In Rs.) | 20.44 | 16.61 | 23.05% |
| Net Worth per Share (In Rs.) | 169.41 | 180.24 | -6.01% |
| Capital Adequacy (%) | 10.88 | 11.57 | -5.96% |
| NPL (%) | 3.90 | 4.94 | -21.05% |
| Cost of Fund (%) | 8.67 | 10.62 | -18.36% |
| Qtr end PE Ratio (times) | 48.91 | - | - |
| Qtr End Market Price | 1000 | - | - |
