First Microfinance profit mounts by 56.08 % in Q2

First Microfinance Development Bank Limited (FMDBL) has posted a marvelous profit growth of 56.08 percent in the second quarter of the current fiscal year 2072/73. According to the unaudited financial report for the second quarter published today, the Microfinance net profit increased to Rs 2.34 crore in second quarter as compared to Rs 1.50 crore in the corresponding quarter of the last fiscal year 2071/72. The microfinance borrowing increased from Rs 1.68 arba to Rs 2.34 arba in Q2. Its net interest income also increased to Rs 4.23 crore in the Q2 up from Rs 3.16 crore compared to the corresponding quarter of the last fiscal year. First Microfinance has a paid up capital of Rs 23 crore with reserve of Rs 4.73 crore. FMDBL non-performing loan remains zero. FMDBL has distributed a stock dividend of 15% and cash dividend of 0.79% for the tax purpose.