NIC Asia Laghubitta’s Net Profit Declines by 100%

Feb 11, 2024 08:57 AM Merolagani

NIC Asia Laghubitta Bittiya Sanstha (NICLBSL) has published its second quarter report of the current FY.

As per the report, the company has logged nearly 100 percent decline in net profit during the period.

In the review period, the company earned a net profit of Rs 1.1 million. The net profit declined by 99.26 percent compared to Rs 14.9 million of the corresponding period of the last FY.

Decline in income and increase in bad debt can be attributed to the decline in net profit.

During the period, its net interest income decreased by 27.08 percent and has net fee and commission loss of Rs 5.6 million. Similarly, its total operating income decreased by 29.66 percent and operating profit by 89.62 percent.

Meanwhile, its non-performing loan increased to 13.76  percent from 3.38 percent.  The company maintained impairment charge of Rs 56.4 million.

The company logged EPS of Rs 0.13 and distributable profit of Rs 263.5 mi9llion.

The company with Rs 1.73 billion in paid-up capital has reserve fund of Rs 1.06 billion. During the period, it collected deposit and borrowed Rs 16.42 billion and extended loan of Rs 16.55 billion.

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