Swabhimaan Laghubitta reports net profit of Rs.1.44 Crore for the third quarter; company to go public on Baisakh 27

Swabhiman Microfinance Bittiya Sanstha has posted a net profit of Rs 1.44 crore in the third quarter of the fiscal year 2075/2076. The company has shown a very good progress in the third quarter of the current fiscal year compared to the same quarter of FY 2074/2075.

The microfinance company's net interest income has grown by more than 285% to Rs 3.05 crore this quarter. The Net profit and Operating profit of the company stand at Rs 1.44 crore and Rs 2.09 crore.

The company's paid-up capital stands at Rs 4.20 crore and its reserve has increased from negative Rs 65.14 lakhs in Q3 of FY 2074/2075 to positive Rs 1.17 crore in the Q3 of FY 2075/76.

The borrowing of the company has increased by 70% to Rs 46.74 crore from Rs 27.50 crore in the corresponding quarter of last fiscal year.

The microfinance has floated Rs 70.04 crore as loan & advances and has Rs 22.95 crore deposit in Q3 of current fiscal year. The non-performing loans of the company increased form 0.02% to 0.55% by the end of the third quarter of the current fiscal year.

The company is issuing 1,98,610 units ordinary shares worth Rs 1.98 crore to the general public from Baisakh 27, 2076. The early closing date of this IPO issue is on Baisakh 31, 2076 and if the issue is not subscribed till Baisakh 31 then this issue can be extended upto Jestha 26, 2076.

Siddhartha Capital has been appointed as the issue manager for the IPO issuance. After the IPO is issued, the paid up capital of the Rupandehi based microfinance company will be Rs.6.18 Crore.