Mero Microfinance net profits increase by 76.94% by the end of the fourth quarter; net interest income stands at Rs.36.98 Crore

Mero Microfinance Laghubitta Sanstha Limited (MERO) has reported an outstanding net profit rise by 76.94% in the fourth quarter.

MERO has published unaudited financial report for the fourth quarter today. It has stated that net profit has increased to Rs 16.76 crore in the fourth quarter of fiscal year 2075/76 from Rs 9.47 crore reported in the corresponding quarter of the previous fiscal year 2074/75.

The microfinance has borrowings of Rs 2.97 arba. Likewise, it extended loans of Rs 4.71 arba which is an increment from corresponding quarter of Rs 3.38 arba. It has collected deposits of Rs 1.21 arba till the fourth quarter of the current fiscal year.

It has paid up capital of Rs 65.78 crore with reserve of Rs 33.90 crore in Q4.

MERO’s net interest income has increased from Rs 23.87 crore in the corresponding quarter last year to Rs 36.98 crore in the fourth quarter of fiscal year 2075/76. Its operating profit has increased to Rs 22.93 crore in Q4, from Rs 14.85 crore in the corresponding quarter.

The annualized earnings per Share (EPS) of the microfinance company stands at Rs 25.48. The microfinance’s non-performing loan (NPL) has fallen to 1.20 percent in the fourth quarter. Currently, Net worth per share stands at Rs 126.07 and P/E ratio at 19.23 times.