Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NUBL) has revealed its third-quarter financial report for the fiscal year 2080/2081, unveiling a remarkable surge in net profit. The company reported an impressive 299.46% increase, with net profit soaring to Rs. 17.58 crores compared to Rs. 4.4 crores in the corresponding quarter of the previous year.
While NUBL experienced a slight decline of 3.26% in core revenue, borrowings witnessed a marginal decrease of 1.39%, and loans and advances saw a slight uptick of 0.16%. Deposits rose by 3.47% during the third quarter, reflecting positive growth in key financial metrics.
NUBL reported a noteworthy decrease in impairment charges during Q3, amounting to Rs. 50.82 crores, contributing significantly to the surge in net profit for the period.
In terms of financial position, NUBL maintains a solid foundation with a paid-up capital of Rs. 2.61 Arba and reserves and surplus standing at Rs. 2.43 Arba. However, the company reported negative retained earnings of Rs. 18.16 crores.
Despite the negative distributable profit, NUBL’s annualized earnings per share (EPS) stood impressively at Rs. 8.98, accompanied by a net worth per share of Rs. 186.10.
The third-quarter financial report underscores NUBL’s resilience and strong performance amidst evolving market conditions, positioning it as a key player in the financial services sector.