First Microfinance Laghubitta Reports Rise in Net Profit by 34.64% in Q2, Both Borrowings and Loans Decline
Summary
First Microfinance Laghubitta Bittiya Sanstha reported a 34.64% increase in net profit in Q2 with improved capital adequacy and decreased borrowings and loans.
Key Points
- First Microfinance Laghubitta's net profit rose by 34.64% to Rs. 7.04 crore in Q2 of FY 2082/83 compared to the previous year.
- The company reduced its borrowings by 17% and loans to MFIs by 22.79% during the period.
- Capital Adequacy Ratio improved to 32% while Non-Performing Loan ratio slightly increased to 4.52%.
- Net interest income dropped by 12.54%, and cost of funds declined by 24.65%.
