Sworojagar Laghubitta’s profit jumps by 220 pc; Nerude, too, posts more than double growth
Sun, Feb 9, 2014 12:00 AM on Others,
ShareSansar, February 9:
Sworojagar Laghubitta Bikas Sansthan Limited has managed to post an outstanding profit growth of 220 percent in the second quarter of the current fiscal year 2070/71 as compared to the corresponding quarter of the last fiscal year.
The unaudited report published by the microfinance development bank today shows that its net profit has risen to Rs 51.91 lakh, up from Rs 16.23 lakh in the corresponding quarter last fiscal.
It may be noted here that Sworogjagar Laghu Bitta’s net profit had stood at Rs 20.72 in the first quarter of the current fiscal year.
Sworojagar’s growth was propelled by its core business as evident from its net interest income, which surged to Rs 1.38 crore, up from just Rs 77.21 lakh in the corresponding quarter.
It mobilized Rs 8.79 crore in deposit and Rs 23.53 crore in loan, up from Rs 5.03 crore in deposit and Rs 16.05 crore in loan in the corresponding quarter.
Sworojagar has also provisioned Rs 6.49 lakh for possible losses.
Its non-performing loan has, however, marginally increased to 1.37 percent from 1.27 percent in the corresponding quarter.
Its EPS ratio stands at 33.06 percent and its net worth per share stands at 140.13 percent.
Nerude Laghu Bitta Bikas Bank Limited has also reported a remarkable profit rise of 126 percent in the second quarter as compared to the corresponding quarter.
Nerude’s net profit has surged to Rs 2.62 crore, up from Rs 1.16 crore, fuelled by its core business.
Its net interest income rose to Rs 8.23 crore as compared to 5.64 crore in the corresponding quarter, and merely Rs 3.95 in the last quarter.
The microfinance development bank mobilized Rs 44.50 crore in deposit in the second quarter, up from just Rs 33.34 in the corresponding quarter. Likewise, it mobilized Rs 1.03 arba in loan, up from Rs 79.53 crore in the corresponding quarter.
It has also provisioned Rs 51.76 for the possible losses even though its non-performing loan has gone down from 1.36 to 1.30 percent.
Its EPS stands at 26.24 and its net worth per share at 176.96.
