With The Healthy Growth In Loans & Net Interest Income, First Mircofinance Laghubitta Sees Impressive 46.44% Growth in Net Profit In Q3
Mon, Apr 18, 2022 5:16 AM on Financial Analysis, Latest,
First Microfinance Laghubitta Bittiya Sanstha (FMDBL) published its third-quarter report for FY 2078/2079 with a 46.44% increase in Net Profit. As per the report published by the company, the net profit increased to Rs. 16.61 crores as compared to Rs. 11.34 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 10.82% (compared to the immediate previous year ending) to Rs. 9.54 Arba which was Rs. 8.61 Arba previous year. The company’s loans and advances to MFIs and Cooperative have also increased by 27.67% (compared to the immediate previous year ending) to 10.41 Arba.
The net interest income (core revenue) has increased by 60.14% to Rs. 30.71 crores compared to Rs. 19.17 crores in the corresponding quarter of the previous year.
The paid-up capital of the company increased to Rs. 96.44 crores in this quarter and its reserve and surplus stood at Rs. 32.63 crores includes Rs 17.39 crore as retained earnings and Rs 15.24 as reserves.
The bank reported Rs. 11.82 crore as distributable profit after P/L appropriation and regulatory requirements in this quarter.
Its annualized earnings per share (EPS) stand at Rs. 22.97. The net worth per share is Rs. 33.84 and the company traded at a P/E multiple of 31.41 times.
Financial Highlights:
| Particulars (In Rs '000") | First Microfinance Laghubitta | ||
|---|---|---|---|
| Q3 2078/79 | Q3 2077/78 | Difference | |
| Share Capital | 964,492 | 876,811 | 10.00% |
| Share Premium | 0 | 0 | |
| Retained Earnings | 173,960 | 98,726 | 76.21% |
| Reserves | 152,424 | 152,647 | -0.15% |
| Borrowings | 9,543,295 | 8,611,445 | 10.82% |
| Loans & Advances to MFIs & Cooperatives | 10,417,596 | 8,159,765 | 27.67% |
| Net Interest Income | 307,143 | 191,794 | 60.14% |
| Impairment Charge/(Reversal) | 43,515 | 27,571 | 57.83% |
| Personnel Expenses | 45,986 | 30,781 | 49.39% |
| Operating Profit | 251,155 | 155,433 | 61.58% |
| Profit/(Loss) for the Year | 166,135 | 113,451 | 46.44% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 118,244 | ||
| Capital Adequacy Ratio (CAR) | 13.05 | 12.17 | 7.23% |
| NPL | 0 | 0 | - |
| Credit to Deposit Ratio (CD Ratio) | 110.75 | 93.63 | 18.28% |
| Cost of Fund (%) | 10.55 | 5.42 | 94.65% |
| Interest Rate Spread (%) | 3.16 | 2.82 | 12.06% |
| Base Rate (%) | 12.35 | 6.13 | 101.47% |
| EPS (In Rs.) | 22.97 | 17.25 | 33.12% |
| Net Worth per Share (In Rs.) | 133.84 | 128.67 | 4.02% |
| Qtr End PE Ratio (times) | 31.41 | - | - |
| Qtr End Market Price | 721.4 | - | - |
