Asha & Infinity Microfinance still in net loss of Rs 1.28 crore & Rs 56.22 lakh respectively; issuing IPO in upcoming days

Asha Lagubitta Bittiya Sanstha Limited has stated net loss of Rs 1.28 crore in the fourth quarter (Q4) of the FY 2073/74. As per the unaudited report published today, net interest income surges to Rs 99.08 lakh where its operating profit is still negative at Rs 1.28 crore. Its paid up capital stands at Rs 7 crore. Its reserve fund is also negative at Rs 1.33 crore. The microfinance has borrowing of Rs 36.50 crore. Its capital adequacy ratio (CAR) stands at 13.62% whereas cost of funds at 10.26%. Similarly, Infinity Microfinance Bittiya Sanstha Limited has also reported net loss of Rs 56.22 lakh in the fourth quarter (Q4) of the FY 2073/74. As per the unaudited report published today, net interest income surges to Rs 30.30 lakh where its operating profit is still negative at Rs 56.22 lakh. Its paid up capital stands at Rs 7 crore. Its reserve fund is also negative at Rs 58.12 lakh. The microfinance has borrowing of Rs 10.73 crore. Its capital adequacy ratio (CAR) stands at 39.36% whereas cost of funds at 11.23%. Both microfinance will be issuing Initial Public Offering (IPO) shares to the general public in upcoming days.