Mero Microfinance Bittiya Sanstha Limited (MERO) has posted profit decrease of 11.24 percent in the first quarter (Q1) of the FY 2074/75.
Publishing the unaudited financial report for the first quarter today, the microfinance company stated that its net profit decrease to Rs 1.90 crore in the current fiscal year 2074/75, down from Rs 2.14 crore in the corresponding period of the previous fiscal year 2073/74.
Mero Microfinance’s paid up capital remains at Rs 28.60 crore (including 30% bonus shares from the net profit of FY 2073/74) with reserve of Rs 8.28 crore in Q1.
The company has borrowings of Rs 2.25 arba in the first quarter, up from Rs 1.46 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 2.56 arba in Q1 whereas in the same period last year the figure stood at Rs 1.57 arba.
Its non-performing loan (NPL) has decreased to 1.31% in Q1 from 2.02% in the previous year report.
MERO’s annualized earning per share (EPS) stands at Rs 26.60, net worth per share at Rs 128.97 and the P/E ratio at 61.65 times.
Major Highlights:
| Particulars (In Rs '000) |
Mero Microfinance (MERO) |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
286,000 |
200,000 |
43.00% |
| Reserve & Surplus |
82,859 |
118,311 |
-29.97% |
| Deposits |
552,930 |
294,411 |
87.81% |
| Borrowings |
2,252,847 |
1,462,334 |
54.06% |
| Loans & Advances |
2,564,162 |
1,575,433 |
62.76% |
| Net Interest Income |
52,052 |
49,819 |
4.48% |
| Provision for possible losses |
1,968 |
3,506 |
-43.87% |
| Operating Profit |
29,433 |
33,670 |
-12.58% |
| Net Profit |
19,017 |
21,426 |
-11.24% |
| NPL (%) |
1.31 |
2.02 |
-35.15% |
| Annualized EPS (In Rs.) |
26.60 |
42.85 |
-37.93% |
| Net Worth per Share (In Rs.) |
128.97 |
159.16 |
-18.97% |
| P/E Ratio (In times) |
61.65 |
- |
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