Gurans Laghubitta Bittiya Sanstha (GLBSL) has recently released its third-quarter financial report for the ongoing fiscal year, showcasing significant profitability.
During this period, GLBSL recorded a noteworthy net profit of Rs 22.4 million, a remarkable improvement compared to the loss of Rs 5.4 million reported in the same period last fiscal year. This surge in profitability can be attributed to a substantial increase in net interest income and successful recovery of bad debts.
The company witnessed a remarkable 67.11 percent increase in net interest income, along with a 44.92 percent rise in other operating income and a substantial 60.71 percent growth in total operating income. Additionally, GLBSL saw a notable decline in bad debts, dropping from 6.89 percent to 2.69 percent during this period, with a recovery of Rs 5.9 million in bad debts.
The company’s earnings per share (EPS) stood at Rs 29.56, with a net worth per share of Rs 143.23 and a P/E ratio of 79.17 times, reflecting its robust financial performance.
With a paid-up capital of Rs 101.4 million and a reserve fund of Rs 43.8 million, GLBSL has demonstrated stability and resilience in its operations. Moreover, the company has successfully collected deposits amounting to Rs 302.9 million, borrowed Rs 1.17 billion, and extended loans totaling Rs 1.64 billion during this period.
This positive financial report underscores GLBSL’s strong position in the market and its ability to navigate challenging economic conditions effectively. Investors and stakeholders can find assurance in the company’s sound financial management and strategic decision-making, further solidifying its reputation as a reliable player in the financial sector.
