Chautari Laghubitta Earns Rs 26.5 Mn Net Profit

Jan 24, 2020 12:08 PM Merolagani

Chautari Laghubitta Bittiya Sanstha (CHLBS) that is in the merger process with Aarambha Laghubitta has increased its net profit by 152.30 percent to Rs 26.5 million in the second quarter of the current FY compared to Rs 10.5 million in the corresponding period of the last FY.

During the period, the company collected deposits of Rs 595.1 million, borrowed Rs 971.5 million and extended loans of Rs 1.71 billion.

In the review period, the company earned net interest income of 71.5 million and operating profit of Rs 41.6 million.

The company with Rs 199 million in paid-up capital has reserve fund of Rs 56.5 million.

During the review period, the company maintained non-performing loan of 1.24 percent, EPS of Rs 26.66, P/E ratio of 16.27 times and net worth per share of Rs 128.41.

Chautari and Aarambha Laghubitta are merging with a swap ratio of 1:1. Both companies have already endorsed the merger proposal from its AGMs. After the merger, the joint entity will be named Aarambha Chautari Laghubitta Bittiya Sanstha.

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