Samudayik Laghubitta Bittiya Sanstha Limited has stated increase in net profit by 29.86 percent in the second quarter (Q2) of the current fiscal year 2074/75.

Publishing the unaudited financial report for the second quarter today, the microfinance company stated that its net profit increased to Rs 53.97 lakh in the Q2 of current fiscal year 2074/75, up from Rs 41.56 lakh in the corresponding period of the previous fiscal year 2073/74.

Its net interest income has also risen from Rs 2.74 crore in corresponding quarter to Rs 2.97 crore in the second quarter.

Its paid up capital remains at Rs 7 crore with reserve of Rs 2.40 crore in Q2. It will be issuing 3 lakh unit IPO shares to the general public after which paid up capital will surge to Rs 10 crore. The IPO issue had postponed by the microfinance company till the further notice. Moreover, the rumour going on and confusion created by leading news portal among the investors seems to be fake as Samudayik seems to be financially sound as per Q2 report of FY 2074/75.

The company has borrowings of Rs 38.46 crore in the second quarter, up from Rs 27.11 crore in the corresponding quarter. Likewise, it has extended loans and advances of Rs 68.87 crore in Q2 whereas in the same period last year the figure stood at Rs 46.48 crore.

Its non-performing loan (NPL) has decreased to 1.49% in Q2 from 2.02% in the previous year report.

Its annualized earning per share (EPS) stands at Rs 15.42 and net worth per share at Rs 134.38.

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