Womi Laghubitta reports an outstanding profit growth by 51.98%; 100% right in pipeline & share trading is in halt

Fri, Apr 19, 2019 7:06 AM on Financial Analysis, Latest, Stock Market,
Womi Laghu...

Womi Microfinance Bittiya Sanstha Limited (WOMI) has reported an outstanding rise of 51.98% in net profit for the third quarter of the fiscal year 2075/76.

Publishing the unaudited financial report for the third quarter today, the microfinance company has stated that its net profit rose to Rs 4.48 crore up from Rs 2.95 crore reported in the corresponding quarter of the previous fiscal year 2074/75.

The microfinance has borrowings of Rs 93 crore till the 3rd quarter compared to Rs 69.27 crore in the corresponding quarter last year. Likewise, it extended loans of Rs 1.67 arba, up from 1.15 arba.  It has collected deposits of Rs 56.23 crore in the third quarter of the fiscal year 2075/76.

It has paid up capital of Rs 10.10 crore with reserve of Rs 9.41 crore as on Q3. Womi Microfinance’s net interest income has risen from Rs 5.94 crore in the corresponding quarter last year to Rs 9.02 crore in the third quarter of fiscal year 2075/76.

It has posted an operating profit of Rs 7.04 crore in Q3, up from Rs 4.50 crore in corresponding quarter.

The microfinance’s non-performing loan (NPL) has declined from 0.76% in the corresponding quarter to 0.70% in the Q3.

Its annualized Earning per Share (EPS) stands at Rs 59.16, net worth per share at Rs 193.13 and P/E ratio at 19.07 times.

Womi Laghubitta Bittiya Sanstha Limited is in merger with Nagarik Laghubitta Sanstha Limited. Due to this stock trading in NEPSE of Womi is in halt since Falgun 26, 2075.

Proposed 100% right share issue of Womi Laghubitta Bittiya Sanstha receives Grade 4+ from ICRA Nepal; what is the rationale behind the rating?

WOMI Microfinance merges with Nagarik Laghubitta Sanstha; trading of WOMI to be put on halt

Major Highlights:

Particulars (In Rs '000)

Womi Laghubitta

Q3 2075/76

Q3 2074/75

Difference

Paid Up Capital

101,088.00

77,760.00

30.00%

Reserve & Surplus

94,142.00

54,753.00

-

Deposits

562,394.00

402,771.00

39.63%

Borrowings

930,439.00

692,736.00

34.31%

Loans & Advances

1,672,683.00

1,154,334.00

44.90%

Net Interest Income

90,279.00

59,487.00

51.76%

Provision for possible losses

4,080.00

5,373.00

-

Operating Profit

70,478.00

45,070.00

56.37%

Net Profit

44,849.00

29,510.00

51.98%

Capital Adequacy (%)

12.08

11.93

1.26%

NPL (%)

0.70

0.76

-7.89%

Annualized EPS (In Rs.)

59.16

50.60

16.91%

Net Worth per Share (In Rs.)

193.13

170.41

13.33%

PE Ratio (times)

19.07

-

-