Mero Microfinance’s net profit increases by 56% in Q2; EPS at Rs 42

Mero Microfinance Bittiya Sanstha Limited (MERO) has posted a net profit rise of 56% by the end of second quarter of the ongoing fiscal year 2073/74. As per the unaudited quarterly statement published by the company today, it has earned a net profit of Rs 4.64 crore, up from Rs 2.97 crore in the corresponding quarter last year. Its deposit has increased to Rs 35.37 crore from Rs 17.15 crore last year. Likewise, it has borrowed Rs 1.63 arba till the end of Q2. It has floated loans worth Rs 1.83 arba, a 47.74% year-on-year increase. Its non-performing loan has increased from 0.77% to 1.64%, however, it is a decrease from 2.02% in the first quarter of the ongoing fiscal year. MERO’s paid up capital is at Rs 22 crore with a reserve of Rs 12.32 crore. Its EPS now stands at Rs 42.19, net worth per share at Rs 156.04 and P/E ratio at 10.52 times.