RSDC Laghubitta & Mirmire Microfinance profit surges by 33.90% & 13.49% respectively in Q1

RSDC Laghubitta Bittiya Sanstha Limited (RSDC) has posted net profit rise by 33.90 % in the first quarter of the fiscal year 2073/74. The net profit of the company rose to Rs 43.96 lakh in Q1 up from Rs 32.83 lakh in the corresponding quarter of the previous fiscal year 2072/73. Publishing the unaudited financial report for the first quarter today, the microfinance institution stated that the micro finance institution’s borrowing remains at Rs 67.97 crore in Q1 compared to Rs 27.50 crore in previous year’s corresponding quarter. The microfinance company has disbursed loans and advances of Rs 75.12 crore in first quarter of the fiscal year 2073/74 compared to Rs 29.01 crore in the previous year corresponding quarter. Its net interest income increased to Rs 84.05 lakh up from Rs 62.45 lakh in the corresponding quarter of the previous fiscal year. The microfinance company has a paid up capital of Rs 10 crore and has Rs 2.87 crore in reserve and surplus. Its NPL has reached to 0.01% from nil.  Its annualized EPS now stands at Rs 17.58, its net worth per share stand at Rs 128.76. Likewise, Mirmire Microfinance Development Bank Limited (MMFDB) has posted net profit growth of 13.49 % for the first quarter of the current fiscal year 2073/74. As per the unaudited financial report for the first quarter, the microfinance company has stated that its net profit rose to Rs.31.39 lakh up from Rs. 27.66 lakh as compared to the corresponding quarter of the previous fiscal year 2071/72. Mirmire Microfinance’s borrowing increased to Rs 39.47 in Q1 from Rs 20.85 crore. Micro finance company’s net interest income has increased to Rs. 1.51 crore from Rs.83.58 lakh in the corresponding quarter of 2072/73. The microfinance has collected deposits of Rs.11.02 crore in Q1 compared to Rs 4.05 crore in the corresponding quarter last year. It has disbursed loans of Rs.51.64 crore, increasing from Rs.25.65 crore. It’s paid up capital remains at Rs.2 crore with reserve and surplus amount Rs.2.31 crore in Q1. MMFDB’s NPL decreased to 1.27 % from 1.70 % in Q1. Its annualized EPS stands at Rs 62.69, net worth per share at Rs 215 and P/E ratio at 53.77  times.