MIRMIRE

Mirmire Microfinance’s Q2 Financial Report Published

Kathmandu : In the midst of ongoing economic shifts, Laghubitta Financial Institution Limited (MMFDB) has recently unveiled its financial report for the second quarter of the current fiscal year, shedding light on some notable challenges. The microfinance institution, a pioneer in promptly disclosing unaudited financial statements, has reported a decline in both self-interest income and operational profit, indicating a complex economic landscape.

The financial report indicates a significant contraction in Laghubitta’s self-interest income, witnessing a notable decrease of 25.84% during the review period. This trend is mirrored in the decrease in self-fees and commission income, which experienced an 11.51% dip. The overall operational profit also faced a setback, plummeting by 21.95%, while net profit showed a decline of 41.48% over the same period.

This downturn in financial metrics is further reflected in Laghubitta’s earnings per share (EPS), which has dropped from NPR 7.57 to NPR 10.22 during the review period. The price-earnings ratio stands at 61.06, and the net worth per share is reported at NPR 164.41, emphasizing the impact on shareholder value.

However, amidst these challenges, Laghubitta showcases resilience in its financial management. The microfinance institution has managed to accumulate a substantial reserve fund, reaching NPR 42.88 crores. With a paid-up capital of NPR 66.57 crores, Laghubitta continues to navigate economic uncertainties.

In summary, Laghubitta’s financial report offers a comprehensive snapshot of its performance in a dynamic economic environment. While facing declines in key financial indicators, the institution’s robust reserve fund and strategic financial management underscore its commitment to weathering economic fluctuations and ensuring long-term sustainability.

 

By Ghising

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