Himalayan Laghubitta Reports Strong Profit Growth in Second Quarter of FY 2082/83

Himalayan Laghubitta Financial Institution Limited has published its unaudited financial statement for the second quarter of the ongoing fiscal year 2082/83. According to the disclosed report, the company has recorded a significant increase in net profit compared to the same period of the previous fiscal year.

During the first six months of the current fiscal year, the microfinance institution earned a net profit of Rs. 44.7 million, marking a growth of over 71.66 percent. In the corresponding period of the previous fiscal year, the company had earned a net profit of Rs. 26 million.

The impressive profit growth has been supported by an increase in net interest income and operating profit. During the review period, the company’s net interest income rose by 28.96 percent to Rs. 197.7 million. Similarly, net operating income stood at Rs. 197.8 million, compared to Rs. 174 million in the same period last year.

The company has allocated Rs. 21.9 million as impairment charges during the review period.

With a paid-up capital of Rs. 341 million, the retained earnings of the institution declined to Rs. 35.6 million, while its reserve and surplus increased to Rs. 148.5 million.

As of the review period, Himalayan Laghubitta collected deposits amounting to Rs. 1.17 billion and extended loans totaling Rs. 4.99 billion using funds borrowed from banks and financial institutions.

According to the published financials, the company’s earnings per share (EPS) stands at Rs. 26.24, while the net worth per share is Rs. 142.22.