Forward Community Microfinance reports a strong Q1 financials; EPS and Networth per share stands at Rs 88.73 and Rs 352.74

Forward Community Microfinance Bittiya Sanstha Limited has published unaudited financial report for the first quarter of FY 2076/77 today. It has stated that its net profit has increased to Rs 8.37 crore in first quarter of fiscal year 2076/77 from Rs 8.04 crore reported in the corresponding quarter of the previous fiscal year 2075/76.

Likewise, it extended loans of Rs 10.11 arba till Q1 with 24.71% growth. It has collected deposits of Rs 4.87 arba and borrowed Rs 5.26 arba till the first quarter. It has paid up capital of Rs 37.76 crore with reserve of Rs 95.45 crore.

Its net interest income has also increased by 22.66% to Rs 22.18 crore from Rs 18.08 crore in the corresponding quarter. Its operating profit has increased to Rs 13.15 crore in Q1, from Rs 12.63 crore in corresponding quarter.

The company annualized earnings per Share (EPS) stand at Rs 88.73 and non-performing loan (NPL) has increased to 0.82%. The Net worth per share stands at Rs 352.74 and quarter end PE is 14.93 times as per the first quarter report.

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Major Highlights: