Mithila Laghubitta reports net profit of Rs 1.40 crore in Q3 of FY 2075/76; Post right and bonus shares, capital to reach Rs 10.59

Wed, May 8, 2019 1:42 PM on Financial Analysis, Latest, Stock Market,
Mithila La...

Mithila Laghubitta Bikas Bank (MLBBL) has posted considerable growth in its net profit by 78.44% in the third quarter of the current fiscal year 2075/76.

As per the unaudited financial report published today, the microfinance company has stated that its net profit has increased to Rs 1.40 crore in Q3 of the FY 2075/76 from Rs 78.48 lakhs of the corresponding quarter.

Its net interest income has increased by 24.61% to Rs 4.11 crore and its provision for possible losses have also increased to Rs 64.03 lakhs.

It has total deposit of Rs 22.54 crore and has floated loans of Rs 84.31 crore. In the third quarter, the borrowings amounted to Rs 52.47 crore. It has a paid up capital of Rs 6.59 crore and Rs 3.95 crore in the reserve.

Its NPL stands at 2.65%; decline by 30% compared to the corresponding quarter. Its EPS stands at Rs 28.30 and Net worth per share is Rs 159.89.

Mithila Laghubitta Bittiya Sanstha Limited has issued 50% right and 10.45% bonus, after the adjustment of which the paid-up capital of MLBBL will reach Rs 10.59 crore.

Major Highlights:

Particulars (In Rs '000) MLBBL
Q3 2075/76 Q3 2074/75 Difference
Paid Up Capital 65,978 65,978 -
Reserve & Surplus 39,512 14,929 164.67%
Deposits 225,421 158,055 42.62%
Borrowings 524,781          327,605 60.19%
Loans & Advances 843,140 543,244 55.20%
Net Interest Income 41,105 32,986 24.61%
Provision for possible losses      6,403.24 6,088 5.19%
Operating Profit 21,374 11,831 80.66%
Net Profit 14,003 7,848 78.44%
NPL (%) 2.65 3.79 -30.08%
Annualized EPS (In Rs.) 28.3    
Net Worth per Share (In Rs.) 159.89    
PE ratio 17.14