Naya Nepal Laghubiita net profit aces by 179.72% in Q2; NPL drops to 12.09%

Naya Nepal Laghubitta Bikas Bank Limited (NNLB) has posted 179.72 % massive growth in net profit for the second quarter of the current fiscal year 2072/73.

Publishing the unaudited financial report for the second quarter today, the microfinance company has stated that its net profit rose to Rs 28.84 lakh, up from Rs 10.31 lakh reported in the corresponding quarter of the previous fiscal year 2071/72.

The microfinance has borrowings of Rs 9.28 crore in the 2^nd quarter compared to Rs 9.25 crore in the corresponding quarter last year. Likewise, it extended loans of Rs 13.74 crore, up from Rs 10.44 crore.  It has collected deposits of Rs 4.67 crore.

Naya Nepal Laghubitta’s net interest income has risen from Rs 66.88 lakh in the corresponding quarter last year to Rs 89 lakh in the second quarter of fiscal year 2072/73.

It posted an operating profit of Rs 45.32 lakh in Q2 up from Rs 17.91lakh in corresponding quarter. It’s paid up capital remains at Rs 2 crore in Q2.

The microfinance non-performing loan (NPL) has slightly declined from 14.07% in the corresponding quarter to 12.09 % in Q2.

Its EPS now stands at Rs 14.42, net worth per share at Rs 133.99 and P/E ratio at 103.81times.