Asha Laghubitta Bittiya Sanstha Limited (ALBSL) has unveiled its financial report for the third quarter of the fiscal year 2080/2081, showcasing a remarkable upsurge in performance. The company reported a notable 17.48% increase in net profit, soaring to Rs. 3.88 crores from Rs. 3.3 lakhs compared to the same quarter last year.
The report highlights a substantial 71.57% surge in core revenue, particularly in net interest income, which climbed to Rs. 31.62 crores from Rs. 18.43 crores in the corresponding quarter of the previous year.
Moreover, ALBSL observed positive growth in essential operational indicators. Deposits rose by 1.24% to Rs. 2.85 Arba, while loans and advances saw an increase of 9.03%, reaching Rs. 9.73 Arba during the third quarter.
During Q3, ALBSL recorded impairment charges totaling Rs. 2.48 crores, marking a significant decline of 39.51%. This decrease in impairment charges substantially contributed to the rise in net profit for the company.
Regarding the financial position, ALBSL reported a paid-up capital of Rs. 64.16 Crore, along with retained earnings of Rs. 12.33 crores and reserves and surplus amounting to Rs. 25.51 crores. The annualized earnings per share (EPS) stood at Rs. 8.07, while the net worth per share was recorded as Rs. 158.99. Notably, ALBSL traded at a P/E multiple of 91.11 times during the period.