Mero Microfinance Bittiya Sanstha net profit elevates by 109% in Q1; Net income increases by 2.5 times

Mero Microfinance Bittiya Sanstha Limited (MMFB) has posted net profit growth by 109 % for the first quarter of the current fiscal year 2072/73. As per the unaudited financial report for the first quarter today, the micro finance has reported that its net profit rose to Rs 1.58 crore in Q1, up from Rs 75.69 lakh as compared in the corresponding quarter of the previous fiscal year 2071/72. The microfinance has mobilized deposits of Rs 13.62 crore in the first quarter compared to Rs 2.91 crore in the corresponding quarter last year. It has floated loans of Rs 1.26 arba, rising from Rs 52.50 crore. Mero Microfinance Bittiya Sanstha’s net interest income rose to Rs 3.89 crore from Rs 1.52crore in the first quarter of 2072/73. It’s paid up capital remains at Rs 13.88 crore with reserve and surplus amount Rs 5.83 crore in Q1. The microfinance’s NPL reached 0.92 % in Q1.