Mero Microfinance Bittiya Sanstha Limited (MERO) has shown fall in net profit by 25.56 percent in the second quarter (Q2) of the current fiscal year 2074/75.
Publishing the unaudited financial report for the second quarter today, the microfinance company stated that its net profit falls to Rs 3.45 in the Q2 of current fiscal year 2074/75, down from Rs 4.64 crore in the corresponding period of the previous fiscal year 2073/74.
Its net interest income has also fallen from Rs 10.52 crore in corresponding quarter to Rs 10.28 crore in the second quarter.
Its paid up capital remains at Rs 28.60 crore with reserve of Rs 9.83 crore in Q2.
The company has borrowings of Rs 2.07 arba in the second quarter, up from Rs 1.63 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 2.66 arba in Q2 whereas in the same period last year the figure stood at Rs 1.83 arba.
Its non-performing loan (NPL) has decreased to 1.28% in Q2 from 1.61% in the previous year report.
Its annualized earning per share (EPS) stands at Rs 24.16, net worth per share at Rs 134.40 and the P/E ratio at 55.46 times.
Major Highlights:
| Particulars (In Rs '000) |
MERO |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
286,000 |
220,000 |
30.00% |
| Reserve & Surplus |
98,381 |
123,289 |
-20.20% |
| Deposits |
623,005 |
353,760 |
76.11% |
| Borrowings |
2,078,834 |
1,638,651 |
26.86% |
| Loans & Advances |
2,661,267 |
1,832,781 |
45.20% |
| Net Interest Income |
102,860 |
105,266 |
-2.29% |
| Provision for possible losses |
2,938 |
6,082 |
-51.69% |
| Operating Profit |
54,282 |
72,921 |
-25.56% |
| Net Profit |
34,543 |
46,404 |
-25.56% |
| NPL (%) |
1.28 |
1.61 |
-20.50% |
| Annualized EPS (In Rs.) |
24.16 |
42.19 |
-42.74% |
| Net Worth per Share (In Rs.) |
134.40 |
156.04 |
-13.87% |
| P/E Ratio (In times) |
55.46 |
|
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