Swadeshi Laghubitta reported massive increment in net profit in Q2; company recently signed merger agreement with NIC Asia Laghubitta

Swadeshi Laghubitta Bittiya Sanstha Limited (SDESI) published the second-quarter report of FY 2077/2078 with a massive increment of 149.10% in Net Profit. As per the report published by the company, the net profit increased to Rs. 12.02 crores as compared to Rs. 4.82 crores in the corresponding quarter of the previous year.

The borrowings of the company increased by 20.29% to Rs. 3.13 Arba which was Rs. 2.60 Arba in the corresponding quarter of the previous year. The company’s loans and advances have also increased by 25.77% to Rs. 4.75 Arba in this quarter.

The net interest income (core revenue) has increased by 33.51% to Rs. 20.67 crores compared to Rs. 15.48 crores in the corresponding quarter of the previous year.

The paid-up capital of the company increased to Rs. 27.60 crores in this quarter and its reserve and surplus stood at Rs. 21.45 crores.

The non-performing loan increased to 4.10% in Q2 from 1.82% in corresponding quarter of previous year.

Its annualized earnings per share (EPS) stands at Rs. 87.13. The net worth per share is Rs. 177.72.

(NOTE: The company has signed merger agreement with NIC Asia Laghubitta)

Click here for Q2 report

Major Highlights:

 (*Trading for the company was halted due to merger agreement with NIC Asia Laghubitta)