In the second quarter report of the fiscal year 2080/2081, Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) disclosed a significant 41.48% decrease in net profit. According to the company’s published report, the net profit declined from Rs. 5.81 crore in the corresponding quarter of the previous year to Rs. 3.4 crore.
Various financial metrics also showed changes. The company’s borrowings decreased by 0.20% to Rs. 4.89 Arba compared to Rs. 4.9 Arba in the corresponding quarter of the previous year, while deposits decreased by 0.77% to Rs. 2.59 Arba. However, the company’s loans and advances increased by 3.32%, reaching 8.26 Arba in the same quarter.
The net interest income (core revenue) experienced a significant decline of 25.84%, falling to Rs. 17.85 crores from Rs. 24.07 crore in the corresponding quarter of the previous year. Key financial figures included a paid-up capital of Rs. 66.57 crores, retained earnings of Rs. 6.23 crores, and reserves and surplus of Rs. 36.64 crores in the reported quarter.
Additionally, the non-performing loans (NPL) ratio increased to 4.51% from 3.84%, while the cost of funds decreased to 10.45% from 11.72%. The capital adequacy stood at 9.71%. The company’s annualized earnings per share (EPS) was reported at Rs. 10.22, and the net worth per share was Rs. 164.41. The company traded at a price-to-earnings (P/E) multiple of 61.08 times.
The table presents major financial highlights, showcasing a comparison between the immediate previous year’s quarter ending figures and those of the current quarter for various financial parameters.