Multipurpose Finance posts a staggering 221% rise in profit

ShareSansar May 26:
 
Multipurpose Finance Company Limited has posted 221% rise in net profit for the third quarter of fiscal year 2071/72.

The company’s profit rose to Rs 21 lakh in the third quarter of the ongoing fiscal year from Rs 6.54 lakhs reported in previous quarter of the current year.    

Likewise, the company has extended loans and advances of Rs 12.477 crore in the third quarter of the current fiscal year.

The company’s net interest income rose to Rs 59.95 lakh in the Q3 of 2071/72 as against Rs 26.04 lakh reported in the previous quarter of this year. The operating profit of the finance stands Rs 29.03 lakh.

The company’s CD ratio stands at 95% and its non performing loans (NPL) stand at 15.40%.