Sparsh Laghubitta Bittiya Sanstha Limited (SLBSL) has made a net profit of Rs 22.258 million in the first quarter of the current fiscal year. This is 58.99 percent less than the corresponding period of the previous fiscal year.
Microfinance had earned a net profit of Rs 5.57 million in the corresponding period of the previous fiscal year. Net profit has decreased compared to the first quarter of the last fiscal year. As of mid-October of the last fiscal year, the microfinance institution has raised Rs. 46.67 million in bad loans and has raised only Rs. 7,46,000.
Net interest income of microfinance increased by Rs. 57,000 to Rs. 143.14 million during the review period. Operating profit of microfinance decreased by Rs. 1.184 million to Rs. 2.82 million during the review period. Operating profit has declined due to the increase in other operating expenses of microfinance and allocation of more amount in the provision for possible risks. During the same period, microfinance has allocated Rs. 48.57 million for such arrangement.
With a paid-up capital of Rs 93.7 million, the microfinance reserve fund has accumulated Rs 55.9 million. In the corresponding period of the previous fiscal year, the paid up capital of microfinance was Rs. 82.9 million and the reserve fund was Rs. 21.3 million. During the review period, microfinance deposits increased from Rs. 192.6 million to Rs. 239.9 million. Similarly, microfinance credit has increased from Rs. 955.6 million to Rs. 1.1178 billion. Non-performing loans of microfinance increased by 2.52 percentage points to 3.14 percent during the review period.
As of mid-October, the annual earnings per share of microfinance has stood at Rs 9.63. Similarly, the net worth of microfinance is Rs 159.67 per share and the price-to-earnings ratio is 100.13 times.