Mero Microfinance reports astounding profit growth of 83.34% in Q4; Reserve increases to Rs 11.78 crore

Mero Microfinance Bittiya Sanstha Limited (MERO) has stated astounding net profit rise of 83.34 percent for the fourth quarter of the last fiscal year 2072/73. In the unaudited financial report for the fourth quarter published today, the microfinance has reported that its net profit has increased to Rs 7.56 crore in Q4 of last fiscal year 2072/73 from Rs 4.12 crore as compared to the corresponding quarter of the last FY 2071/72. The company net interest income has risen to Rs 17.14 crore in Q4 from Rs 9.34 crore in corresponding period of previous fiscal year. The micro finance has paid up capital of Rs 20 crore with reserve of Rs 11.78 crore in Q4. The microfinance has borrowings of Rs 1.48 arba in Q4 as compared to Rs 1.20 arba in the corresponding quarter whereas its loan & advances has extended to Rs 1.33 arba from Rs 1.17 arba in corresponding previous quarter. It has collected deposits of Rs 24.78 crore. MERO non-performing loan (NPL) stands at 0.98 percent. Its annualized earning per share (EPS) stands at Rs 37.81 and net worth per share at Rs 158.90.