Nepal Seva Laghu Bitta profit crashes by 99.46%; net profit amounts to Rs 14,000

Nepal Seva Laghu Bitta Bittya Sanstha Limited (NSLBSL) has reported harsh decrease in profit of 99.46% in the second quarter of the current fiscal year 2074/75. According to the unaudited financial report for the second quarter published today, the microfinance has stated that its net profit decreased to Rs 14 thousand in second quarter as compared to Rs 25.78 lakh in the corresponding quarter of the last fiscal year 2073/74. However, its deposits have increased outstandingly by 111.14% to reach Rs 3.48 crore in the second quarter of the current fiscal year 2074/75 from Rs 1.65 crore in the corresponding quarter of the previous fiscal year. It has floated loans of Rs 26.18 crore in the second quarter of current fiscal year 2074/75. The borrowing of the microfinance has increased from Rs 19.74 crore in the corresponding quarter of the previous year to Rs 11.81 crore in the second quarter of the current fiscal year 2074/75. Its net interest income has also increased to Rs 79.13 lakh in the Q2 up from Rs 51.39 compared to the corresponding quarter of the last fiscal year. However, the microfinance company has an operating loss of Rs. 56.76 lakh in Q2 of the ongoing fiscal year. NSLBSL’s paid up capital stand at Rs 4.20 crore and reserve and surplus is Rs 11.08 lakh in second quarter of FY 2074/75. The microfinance company is seeking approval to issue 180,000 units shares worth Rs 1.80 crore to be floated to the general public (including its staffs). It’s annualized Earnings per Share (EPS) stands at Rs 0.07 and net worth per share stands is at Rs 102.64. See the Q2 Report Here