CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) has unveiled its unaudited financial performance for the final quarter of fiscal year 2081/82, reflecting a remarkable enhancement in profitability and financial metrics. The firm reported a net profit of Rs. 11.74 crore, marking a staggering increase of 208.44% compared to Rs. 3.81 crore in the same quarter of the previous fiscal year.
The company’s net interest income surged by 41.30%, reaching Rs. 45.03 crore, an increase from Rs. 31.87 crore last year. Customer loans and advances rose by 4.96%, amounting to Rs. 625.52 crore, while total borrowings expanded by 8.02% to Rs. 310.39 crore.
Operating profit climbed to Rs. 16.27 crore, an impressive 250.52% up from Rs. 4.64 crore in the previous fiscal period. The enterprise successfully maintained personnel costs relatively stable, with a mere 0.77% rise to Rs. 24.6 crore. Impairment charges for loans and advances fell by 8.81% to Rs. 2.02 crore, further assisting in the increase in profitability.
The microfinance organization’s retained earnings surged by 384.85% to Rs. 11.33 crore, while reserves grew by 5.84% to Rs. 35.86 crore. Following profit and loss allocation and regulatory modifications, the company achieved a distributable profit of Rs. 9.10 crore, in contrast to zero distributable profit in the corresponding quarter last year.
Essential performance ratios also demonstrated enhancement. The capital adequacy ratio improved to 9.31% from 8.85%, while the non-performing loan (NPL) ratio decreased to 4.54%, down from 4.95%. The cost of funds dropped significantly by 26.25%, settling at 7.39%.
From a shareholder’s viewpoint, the company provided an earnings per share (EPS) of Rs. 44.09, up from Rs. 14.30 in the prior year. The net worth per share elevated by 17.46% to Rs. 277.17. At the close of the quarter, the market price of CYC Nepal Laghubitta’s shares was Rs. 1,725, featuring a Price-to-Earnings (PE) ratio of 39.12 times.
