Nagbeli Laghubitta profit surges by meager 6%; EPS at Rs 40.88

Nagbeli Laghubitta Bikash Bank Limited (NBBL) has posted net profit rise of 5.88% in the second quarter (Q2) of the current fiscal year 2073/74. Publishing the unaudited financial report for the second quarter today it stated that the net profit of the microfinance company rose to Rs 1.63 crore in Q2 up from Rs 1.54 crore in the corresponding quarter of the previous fiscal year 2072/73. Its net interest income surged to Rs. 3.79 crore in Q2 up from Rs 2.56 crore in the corresponding quarter. The microfinance institution’s borrowing also increased to Rs 34.61 crore from Rs 30.07 crore in the corresponding quarter. It has collected Rs 13.85 crore in deposits in Q2 compared to Rs 8.78 crore deposits in the corresponding quarter previous fiscal year. Likewise, it has extended loans and advances of Rs 55.68 crore in Q2 of FY 2073/74 whereas in the same period last year the figure stood at Rs. 41.84 crore. Nagbeli Laghubitta has a paid up capital of Rs 4 crore and has Rs 4.74 crore in reserve and surplus. Its non- performing loan (NPL) increased to 2.32% from 1.29 % in the second quarter of the current fiscal year. NBBL’s  annualized Earning per Share (EPS) now stands at Rs  40.80, net worth per share stands at Rs 200.18 while the P/E ratio stands at 51.96 times.