Asha Laghubitta Bittiya Sanstha (ALBSL) has unveiled its third-quarter report for the current fiscal year, demonstrating a notable surge in net profit compared to the corresponding period of the previous fiscal year.
During this review period, ALBSL recorded a net profit of Rs 38.8 million, marking a substantial increase of 17.48 percent from the net profit of Rs 33 million reported during the same period last fiscal year.
The growth in net profit can be attributed to significant increases in net interest income and net fee and commission income. Notably, net interest income surged by 71.57 percent, while net fee and commission income skyrocketed by an impressive 2888.70 percent. Additionally, ALBSL’s total operating income witnessed a robust growth of 78.89 percent, with operating profit increasing by 16.67 percent.
Following its acquisition of Rastra Utthan Laghubitta, ALBSL boasts a distributable profit of Rs 123.3 million.
However, there was a decline in earnings per share (EPS) to Rs 8.07. The company currently holds a Price-to-Earnings (P/E) ratio of 91.11 times and a net worth per share of Rs 158.99.
With a paid-up capital of Rs 641.6 million and a substantial reserve fund amounting to Rs 378.4 million, ALBSL maintains a strong financial foundation. Throughout the review period, the company successfully collected deposits and borrowed Rs 8.89 billion, while extending loans amounting to Rs 9.73 billion.
