NIC Asia Laghubitta publish third quarter financial statement; Made a net profit of 18 crore rupees

Kathmandu, April 22

NIC Asia Laghubitta Bittiya Sanstha Limited has released its third quarter financial statements for the current fiscal year on Thursday.

According to the financial statement, the company’s net profit has increased by 3.4 times i.e. 247 percent in the same period of the current fiscal year as compared to the third quarter of the previous fiscal year. The company had a net profit of Rs. 52 crore 6 lakh in the corresponding period of the previous year. This year the company has a net profit of Rs. 18 crore 30 lakh.

The increase in net interest income and operating profit of the company in the third quarter of the current fiscal year is due to the increase in profit. Compared to the third quarter of last year, the company’s net interest income increased by 242 percent and operating profit by 220 percent in the same period of the current fiscal year.

Along with the increase in profit, the company’s earnings per share has also increased. In the third quarter of last year, the company’s earnings per share was Rs. 16.29 in the corresponding period of the previous year. And it has reached to Rs. 32.75 in the current year.

The paid-up capital of the company is Rs. 1 arba 73 crore 94 lakh and reserve & surplus is Rs. 79 crore 53 lakh. The reserve fund has also increased by 249 percent in the current fiscal year as compared to the third quarter of the previous fiscal year.

By the third quarter of the current fiscal, the company had borrowings of  Rs. 13 arba 69 crore 17 lakhs. The company has collected deposits of Rs. 2 arba 76 crore 61 lakh and has invested Rs. 15 arba 88 crore 42 lakh. Price-to-earnings ratio has reached to 51.88 times and net worth per share has reached Rs. 145.