Mirmire Laghubitta Reports Decline in Q2 Financials with Net Profit Plummeting by 41.48%; NPL at 4.51%
Wed, Jan 17, 2024 8:59 AM on Financial Analysis, Company Analysis, Latest,
Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) published the second-quarter report of FY 2080/2081 with a decline of 41.48% in Net Profit. As per the report published by the company, the net profit decreased to Rs. 3.4 crore as compared to Rs. 5.81 crore in the corresponding quarter of the previous year.
The borrowings of the company decreased by 0.20% to Rs. 4.89 Arba which was Rs. 4.9 Arba in the corresponding quarter of the previous year. The deposits of the company decreased by 0.77% to Rs 2.59 arba. Likewise, The company’s loans and advances increased by 3.32% to 8.26 Arba in this quarter.
The net interest income (core revenue) has decreased by 25.84% to Rs. 17.85 crores compared to Rs. 24.07 crore in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 66.57 crores in this quarter and its retained earnings and reserve and surplus stood at Rs. 6.23 Crores and 36.64 crores respectively.
The company NPL inclined to 4.51% from 3.84%. Its cost of funds fell to 10.45% from 11.72% and capital adequacy stands at 9.71%
Its annualized earnings per share (EPS) stand at Rs. 10.22. The net worth per share is Rs. 164.41. The company traded at a P/E multiple of 61.08 times.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Mirmire Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 665,764.27 | 653,382.90* | 1.89% |
| Retained Earnings | 62,347.29 | 42,472.59* | 46.79% |
| Reserves | 366,485.18 | 350,485.85* | 4.56% |
| Borrowings | 4,895,967.44 | 4,905,973.42* | -0.20% |
| Deposits | 2,594,673.64 | 2,614,710.08* | -0.77% |
| Loans & Advances to Customers | 8,266,436.98 | 8,000,681.01* | 3.32% |
| Net Interest Income | 178,555.65 | 240,772.70 | -25.84% |
| Personnel Expenses | 133,384.01 | 145,316.59 | -8.21% |
| Impairment Charges | -2,163.83 | -2,500.45 | -13.46% |
| Operating Profit | 48,579.18 | 83,011.79 | -41.48% |
| Net Profit | 34,005.42 | 58,108.26 | -41.48% |
| Capital Adequacy (%) | 9.71 | 9.27 | 4.75% |
| NPL (%) | 4.51 | 3.84 | 17.45% |
| Cost of Fund (%) | 10.45 | 11.72 | -10.84% |
| Annualized EPS (In Rs.) | 10.22 | 17.79 | -42.57% |
| Net Worth per Share (In Rs.) | 164.41 | 160.14 | 2.67% |
| Qtr end PE Ratio (times) | 61.08 | - | - |
| Qtr End Market Price | 624 | - | - |
