Sworojagar Laghu Bitta profit surges by 317 % as its net interest income doubles

ShareSansar, November 14:


Sworojagar Laghu Bitta Bikas Bank has reported a net profit rise of 317.17 percent in its unaudited report made public today.


According to the microfinance development bank with 1.57 crore paid-up capital, it has posted a net profit of Rs 20.73 lakh in the first quarter, up from just Rs 4.96 lakh in the corresponding quarter last year.


The microfinance’s net interest income has almost doubled from Rs 33.83 lakh in the corresponding quarter to Rs 64.56 lakh. It has also posted an impressive operational profit of Rs 32.57 lakh, up from Rs 7.81 lakh.


However, its non performing loan has also increased from 0.84 percent to 1.51 percent.


Sworojagar had mobilized Rs 76.72 lakh in deposit and Rs 22.52 crore in loan in the first quarter compared to Rs 43.20 lakh in deposit and Rs 14.75 crore in loan in the corresponding quarter.


It borrowing amount tallies Rs 15.47 crore in the first quarter, up from Rs 12.59 crore in the corresponding quarter.


The EPS (annualized) of the microfinance stands at Rs 52.81 and per share net worth at Rs 139.26.