3rd October 2022, Kathmandu
First Microfinance Laghubitta Bittiya Sanstha (FMDBL) has published its first quarter report of the current fiscal year.
The profit of First Microfinance, which increased net interest income by 100 percent, jumped by 62 percent.
First Microfinance earned a net profit of Rs 6 crore 37 lakh in the first quarter of the current financial year. In the previous period, the profit of microfinance was limited to 3 crores 94 lakh rupees. There is a significant improvement in the net interest income of microfinance in the first quarter of the year.
First Microfinance, which provides wholesale loans, has collected interest income of 12 crore rupees in three months. Till the end of the last Asoj of the previous year, such income was limited to 6 crore rupees.
Microfinance lending and credit disbursement are slower than in the past. Credit decreased by 0.31 percent and borrowing decreased by 2.5 percent.
During this period, the distributable profit of microfinance is 2 crore 34 lakh rupees. And after the increase in net profit, the earnings per share also seem to have increased.
Earnings per share rose to Rs 26.45 from Rs 16.35 in the first quarter of the current financial year.