Mero Microfinance Laghubitta Sanstha Limited (MERO) has reported an outstanding net profit rise by 55.92% in the first quarter.
MERO has published unaudited financial report for the first quarter today. It has stated that net profit has increased to Rs.4.27 Crore in the first quarter of fiscal year 2076/77 from Rs.2.74 Crore reported in the corresponding quarter of the previous fiscal year 2075/76.
The microfinance has borrowings of Rs.3 Arba. Likewise, it extended loans of Rs.4.88 Arba which is an increment from corresponding quarter of Rs.3.64 Arba. It has collected deposits of Rs.1.31 Arba till the first quarter of the current fiscal year.
It has paid up capital of Rs.65.78 Crore with reserve of Rs.42.65 Crore in Q1.
MERO’s net interest income has increased from Rs.7.09 Crore in the corresponding quarter last year to Rs.11.97 Crore in the first quarter of fiscal year 2076/77. Its operating profit has increased to Rs.5.76 Crore in Q1, from Rs.4.25 Crore in the corresponding quarter.
The annualized earnings per Share (EPS) of the microfinance company stands at Rs.25.98. The microfinance’s non-performing loan (NPL) has increased to 1.60 percent in the first quarter. Currently, Net worth per share stands at Rs.164.84 and P/E ratio at 21.17 times.