Nerude Laghubiita profit surge by 74.57%; Swabalamban Laghubitta  profit plunges by meager 2.47% in Q1

Nerude Laghubitta Bikas Bank Limited (NLBBL) has posted net profit increment by 74.57% in the first quarter of the current fiscal year 2073/74. The microfinance company has earned net profit of Rs 1.41 crore in the first quarter of the fiscal year 2073/74. The figure stood at Rs 81.31 lakh in the previous year corresponding quarter. Publishing the unaudited financial statement for first quarter today, the microfinance stated that its borrowings increased to Rs 1.17 arba from Rs 89.16 crore in Q1. It has collected deposits of Rs 85.56 crore and disbursed loan of Rs 2.40 arba in Q1 of the ongoing fiscal year. The deposits and loan and advance figure stood at Rs 66.92 crore and Rs 1.69 arba respectively in the previous year corresponding quarter. The microfinance net interest income increased to Rs 7.22 crore from Rs 5.76 crore in the corresponding quarter of the previous fiscal year. NLBBL Non-Performing Loan (NPL) decreased to 0.95% from 1.10% in Q1. Its   earning per share (EPS) stood at Rs 31.54, PE ratio at 249.17times and net worth per share at Rs 222.81. Likewise, Swabalamban Laghubitta Bikas Bank (SWBBL) has posted modest profit declined by meager 2.47 percent in the first quarter of the current fiscal year 2073/74. The net profit of the company plunged to Rs 7.03 crore in Q1 up from Rs 7.21 crore in the corresponding quarter of the previous fiscal year 2072/73. Publishing the unaudited financial report for the first quarter today, the microfinance institution has stated that its net interest income has risen to Rs 22.96 crore in Q1 up from Rs 20.06 crore in the corresponding quarter. SWBBL’s has a paid up capital of Rs 31.23 crore with reserve of Rs 74.75crore. The microfinance’s borrowing remains at Rs 3.15 arba and has collected Rs 3.28 arba in deposits. Likewise, it has extended loans and advances of Rs 6.83 arba in Q1 of FY 2073/74 whereas in the same period last year the figure stood at Rs 5.42 arba. Meanwhile its non-performing loan (NPL) increased from 0.65 percent in previous quarter to 0.87 percent in the first quarter of the current fiscal year. Swabalamban’s earning per share (EPS) now stands at Rs 90.06, its net worth per share is at Rs 339 while the P/E ratio at 27.76 times.