Janasewi Laghubitta publishes financial highlights for the third quarter; company to soon issue IPO worth Rs.4.63 Crore

Janasewi Laghubitta Bittiya Sanstha Limited has reported net profit of Rs 87.59 lakh in the third quarter for the FY 2075/76, up from Rs 24.27 lakhs posted in the Q3 of previous year.

The microfinance company has reported net interest income of Rs 3.30 crore with operating profit reported at Rs 1.37 crore, which were Rs 1.78 crore and Rs 38.13 lakh respectively in the corresponding quarter of the previous year

The paid-up capital of the company stands at Rs 9.80 crore with reserve and surplus of Rs 1.31 crore.

Till the end of the third quarter, the microfinance company has collected Rs 17.49 crore as deposits and lent out Rs 57.26 crore as loans and advances. The Non-Performing Loan has decreased from 2.29% to 1.79% by the end of the third quarter.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 to the Rs 4.63 crore worth of Initial Public Offer of Janasewi Laghubitta Bittiya Sanstha Limited. Instruments with this grading are considered to have below-average fundamentals.