GLBSL Reports 72.15% Increase in Net Profit for the First Half of Fiscal Year

Gurans Microfinance Financial Institution Limited (GLBSL) has published its unaudited financial report for the second quarter of the current fiscal year. According to the report, the microfinance's net profit has increased compared to the same period last year.

In the first six months of the current fiscal year, the microfinance has earned a net profit of NPR 26.6 million, which is 72.15% higher compared to the same period last year when the net profit was NPR 15.4 million.

The growth in net profit is attributed to an increase in interest income and operational profit. During the review period, the microfinance's interest income rose by 55.18%, and fee and commission income increased by 63.10%. Additionally, total operating income grew by 36.15%, while operating profit increased by 67.77%. As of the end of the month of Poush, the microfinance has an impairment charge of NPR 2.64 million. The distributable profit stands at NPR 19.5 million, with a distributable earnings per share of NPR 29.48.

With the increase in profit, the earnings per share of the microfinance also grew. During the review period, the earnings per share rose by NPR 5.13, reaching NPR 40.22. The net worth per share as of the review period is NPR 159.33, and the price-to-earnings ratio is 47.98 times.

The microfinance has a paid-up capital of NPR 132.3 million and has accumulated reserves of NPR 78.5 million. By the end of the second quarter, the microfinance has mobilized a total of NPR 19.5 billion in deposits and provided loans amounting to NPR 21.06 billion.