Mithila Laghubitta Bittiya Sanstha (MLBBL) recently disclosed its financial report for the third quarter of the ongoing fiscal year. The report unveils a significant upsurge in the company’s net profit compared to the corresponding period of the previous fiscal year.
During this review period, MLBBL witnessed a notable rise in its net profit, reaching a staggering Rs 30 million. This reflects a remarkable increase of 41.51 percent compared to the net profit of Rs 21.2 million recorded during the same period last fiscal year.
The boost in net profit can be attributed to several factors, including an increase in net interest income and successful recovery of bad debts. Notably, the company’s net interest income soared by 31.53 percent, while its net fee and commission income saw a substantial uptick of 18.03 percent. Moreover, MLBBL’s total operating income surged by 16.53 percent, with operating profit witnessing an impressive growth of 44.29 percent. During this period, the company successfully recovered bad debts amounting to Rs 11.9 million.
MLBBL also reported an earnings per share (EPS) of Rs 20.44, a Price-to-Earnings (P/E) ratio of 48.91 times, and a commendable net worth per share of Rs 169.41.
With a paid-up capital of Rs 196 million and a robust reserve fund of Rs 136 million, MLBBL continues to strengthen its financial position. Throughout the period under review, the company amassed deposits totaling Rs 1.54 billion, borrowed Rs 979.5 million, and extended loans amounting to Rs 2.62 billion.
