Mahalaxmi Finance’s net profit surges by 25% in fourth quarter
Tue, Jul 22, 2014 12:00 AM on Others,
ShareSansar, July 22:
Mahalaxmi Finance Limited has a rise in net profit from Rs 7.21 crore to Rs 8.99 crore in the fourth quarter of the fiscal year 2070/71 according to the unaudited financial report published today.
The profit was mainly fueled by the core business of the finance company. As the net interest income has rose to Rs 14.56 crore up from Rs 12.37 crore.
Mahalaxmi Finance has increase in the deposits as compared to corresponding quarter it has accumulated Rs 3.81 arba from Rs 2.81 arba. Likewise the loan flow has also increased from Rs 2.42 arba to Rs 3.13 arba.
The provision for possible loss of the finance company has decreased to Rs 50 lakh from Rs 2.14 crore in the fourth quarter which is very impressive.
The NPL has also decreased to 0.88 percent as compared to the corresponding quarter of last fiscal year it was 1.01 percent.
