Himalayan Laghubitta Posts Strong Second-Quarter Results with 71% Surge in Profit

Himalayan Laghubitta Bittiya Sanstha Limited has published its unaudited financial statement for the second quarter of the current fiscal year, showing a strong improvement in profitability compared to the same period last year. According to the report, the company’s net profit increased by more than 71.66 percent in the first six months of the fiscal year. During this period, the microfinance institution earned a net profit of NPR 44.7 million, up from NPR 26.0 million in the corresponding period of the previous fiscal year. The growth in profit has been supported by an increase in net interest income as well as operating profit. Net interest income rose by 28.96 percent to NPR 197.7 million, while net operating income reached NPR 197.8 million, compared to NPR 174.0 million in the same period last year. During the review period, the company allocated NPR 21.9 million as impairment charges. With a paid-up capital of NPR 341.0 million, retained earnings have declined to NPR 35.6 million, while the reserve fund has increased to NPR 148.5 million. As of the review period, the institution has collected deposits worth NPR 1.17 billion and, after borrowing from other banks and financial institutions, has extended loans totaling NPR 4.99 billion. The company’s earnings per share stand at NPR 26.24, while its net worth per share is NPR 142.22.