Net Profit of Global IME Laghubitta Increases Despite Increase in NPL

Aug 13, 2020 01:22 PM Merolagani

Global IME  Laghubitta (GILB) has managed to increase net profit despite an increase in non-performing loans by 1.5 percent.  the company earned a net profit of Rs 77.9 million in the fourth quarter of the last FY.

The net profit increased by Rs 9.7 million compared to Rs 68.1 million of the corresponding period of the previous FY.

The decrease in net profit is due to an increase in its non-performing loans by 8.5 percent. along with it, its operating profit has also decreased during the period.

In the last FY, the company collected deposit of Rs 1.31 billion, borrowed Rs 2.57 billion and extended loan of Rs 3.62 billion.

 In the last FY, the company earned a net interest income of Rs 262.6 million compared to Rs 143.1 million of the previous FY. Similarly, its operating profit increased to Rs 123.7 million from Rs 102.6 million.

In the review period, the non-performing loan of the company increased to 1.94 percent from 0.43 percent. increase in non-performing loan increased its provision for possible losses to Rs 81.8 million from Rs 24.9 million of the previous FY.

The company with Rs 259.5 million in paid-up capital has reserve fund of Rs 162 million. The company logged EPS of Rs 30.03, net worth per share of Rs 155.54 and P/E ratio of 43.90 times.

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