7 August 2024, Kathmandu
Mero Microfinance Laghubitta Financial Institution Limited has reported a dramatic 362.59% increase in net profit for the fourth quarter of the last financial year.
Mero Microfinance Profits Soar
The microfinance institution earned a net profit of Rs. 21.95 million, up from Rs. 4.75 million the previous year.
The company’s net interest income also saw a boost, rising by 14% to Rs. 874.8 million from Rs. 767 million last year. Operating profit surged by 352.74% to Rs. 31 million, compared to Rs. 6.85 million the previous year.
Total operating income increased by 15.84% to Rs. 999 million, up from Rs. 857.1 million. However, the bad loan ratio grew by 1.84% to 7.68%, though the impairment charge was significantly reduced from Rs. 12.54 crore to Rs. 1.94 crore.
The earnings per share (EPS) for the review period is reported at Rs. 16.63, with a net worth per share of Rs. 160.53. The price-earnings (PE) ratio stands at 42.08 times, and the distributable profit is Rs. 196.2 million.
The reserve fund has accumulated Rs. 844.45 million, supported by a paid-up capital of Rs. 1.32 billion.
Mero Microfinance Profits Soar
