Mero Microfinance & Nagbeli Laghubitta profit surge by 35.44% & 47.02% respectively in Q1

Mero Microfinance Bittiya Sanstha Limited (MERO) has posted net profit increment by 35.44% in the first quarter of the current fiscal year 2073/74. The microfinance company has earned net profit of Rs 2.14 crore in the first quarter of the fiscal year 2073/74 up from Rs 1.58 crore in the previous year corresponding quarter. Publishing the unaudited financial statement for first quarter today, the microfinance company has stated that its borrowings increased to Rs 1.46 arba from Rs 1.23 arba in Q1. It has collected deposits of Rs 29.44 crore and disbursed loan of Rs 1.57 arba in Q1 of the ongoing fiscal year. The deposits and loan and advance figure stood at Rs 16.32 crore and Rs 1.26 arba respectively in the previous year corresponding quarter. The microfinance net interest income increased to Rs 4.98 crore from Rs 3.89 crore in the corresponding quarter of the previous fiscal year. MERO’s non-Performing Loan (NPL) decreased to 2.02% from 2.87% in Q1. Its   earning per share (EPS) stood at Rs 42.84, PE ratio at 10.84 times and net worth per share at Rs 159.16. Likewise, Nagbeli Laghubitta Bikash Bank (NBBL) has posted net profit rise of 47.02% in the first quarter (Q1) of the current fiscal year 2073/74. Publishing the unaudited financial report for the first quarter today, the net profit of the microfinance company rose to Rs 87.59 lakh in Q1 up from Rs 59.58 lakh in the corresponding quarter of the previous fiscal year 2072/73. Its net interest income surged to Rs. 1.82 crore in Q1 up from Rs 1.16 crore in the corresponding quarter. The micro finance institution’s borrowing increases to Rs 36.99 crore from Rs 25.28 crore in the corresponding quarter. It has collected Rs 12.52 crore in deposits in the first quarter fo the ongoing fiscal year compared to Rs 7.67 crore deposits in the corresponding quarter previous fiscal year. Likewise, it has extended loans and advances of Rs 54.01 crore in Q1 of FY 2073/74 whereas in the same period last year the figure stood at Rs. 38.02 crore. Nagbeli Laghubitta has a paid up capital of Rs 2.5 crore and has Rs 5.98 crore in reserve and surplus. Its non- performing loan (NPL) increased to 1.71% from 1.06 % in the first quarter of the current fiscal year. NBBL’s  annualized earning per share (EPS) now stands at Rs  125.57, net worth per share stands at Rs 339.32 while the P/E ratio stands at 35.04 times.