First Microfinance Q1 earning surges by 35.96% to Rs 1.50 crore; Paid up capital stands at Rs 26.45 crore

First Microfinance Development Bank Limited (FMDBL) has reported profit growth of 35.96 percent in the first quarter (Q1) of the current fiscal year 2073/74. According to the unaudited financial report for the first quarter published today, the microfinance has stated that its net profit surged to Rs 1.50 crore in first quarter as compared to Rs 1.10 crore in the corresponding quarter of the last fiscal year 2072/73. The microfinance company’s borrowing has increased from Rs 2.30 arba in the corresponding quarter of the previous year to Rs 3.22 arba in the first quarter of the ongoing fiscal year 2073/2074. Its net interest income has also increased to Rs 2.65 crore in the Q1 up from Rs 2.20 crore compared to the corresponding quarter of the last fiscal year. First Microfinance has paid up capital of Rs 26.45 crore and has reserve of Rs 5.69 crore. FMDBL non-performing loan remains zero as stated by the latest financial report. First Microfinance annualized Earning Per Share (EPS) stands at Rs. 22.74, net worth per share at Rs.121.54, and P/E ratio at 66.90 times. NRB’s Monetary Policy for the FY 2073/74, wholesaler microfinance should maintain it’s paid up capital up to Rs 60 crore till FY 74/75. Capital Plan of First Microfinance includes 15% bonus & 50% right share in FY 2072/73 & FY 2073/74 then after that 50% right share in FY 2074/75.