Mithila Laghubitta Reports Q2 Net Profit of Rs. 1.33 Crore; Core Revenue Declines, NPL at 4.47%
Tue, Feb 6, 2024 8:42 AM on Financial Analysis, Company Analysis, Latest,
Mithila Laghubitta Bittiya Sanstha Limited (MLBBL) has recently unveiled its second-quarter financial report for the fiscal year 2080/81. The company reported a net profit of Rs. 1.33 Crore, marking a 38.73% decrease from the Rs. 2.17 Crores recorded in the corresponding quarter of the previous year.
MLBBL's financial structure witnessed a 2.73% increase in borrowings, totaling Rs. 1.33 Arba, while loans and advances experienced a 7.54% increment, reaching Rs. 2.49 Arba in the current reporting quarter.
In terms of core revenue, the net interest income showed a marginal decline of 2.56%, amounting to Rs. 5.57 crore in the current quarter compared to Rs. 5.72 crore in the corresponding quarter of the previous fiscal year.
MLBBL maintains a financial base with a paid-up capital of Rs. 19.6 crores and reserves totaling Rs. 13.71 crores. The annualized earnings per share (EPS) stood at Rs. 13.60. The net worth per share is reported at Rs. 167.22. Interestingly, the company is currently trading at a P/E multiple of 69.23 times.
On another financial front, the Non-Performing Loans (NPL) experienced a notable surge of 35.87%, resulting in a standing ratio of 4.47%.
Major Financial Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | Mithila Laghubitta | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 196,002.76 | 179,437.18* | 9.23% |
| Reserves | 131,751.17 | 182,048.22* | -27.63% |
| Borrowings | 1,335,569.42 | 1,300,133.71* | 2.73% |
| Loans & Advances | 2,491,160.05 | 2,316,415.16* | 7.54% |
| Net Interest Income | 55,778.04 | 57,242.60 | -2.56% |
| Impairment Charges | 14,437.97 | 8,752.87 | 64.95% |
| Operating Profit | 11,216.53 | 26,208.72 | -57.20% |
| Net Profit | 13,324.62 | 21,747.10 | -38.73% |
| Capital Adequacy (%) | 11.45 | 13.50 | -15.19% |
| NPL (%) | 4.47 | 3.29 | 35.87% |
| Cost of Fund (%) | 9.73 | 13.07 | -25.55% |
| EPS (In Rs.) | 13.60 | 24.24 | -43.91% |
| Net Worth per Share (In Rs.) | 167.22 | 201.46 | -16.99% |
| Qtr end PE Ratio (times) | 69.43 | - | |
| Qtr End Market Price | 944 | - | |
