Mero Microfinance reports decent hike in profit; EPS & Net worth stand at Rs 33.33 and Rs 131.67 in Q1
Fri, Nov 2, 2018 8:03 AM on Financial Analysis, Latest, Stock Market,
Mero Microfinance Development Bank (MERO) has reported net profit rise by 44.10% to Rs 2.74 crore 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 2.74 crore in first quarter of fiscal year 2075/76 from Rs 1.90 crore reported in the corresponding quarter of the previous fiscal year 2074/75.
The microfinance has borrowings of Rs 2.67 arba. Likewise, it extended loans of Rs 3.64 arba which is an increment from corresponding quarter’s Rs 2.56 arba. It has collected deposits of Rs 84.95 crore in the first quarter of the current fiscal year.
It has paid up capital of Rs 32.89 crore with reserve of Rs 10.41 crore in Q1.
MERO’s net interest income has increased from Rs 5.20 crore in the corresponding quarter last year to Rs 7.09 crore in the first quarter of fiscal year 2075/76. Its operating profit has increased to Rs 4.25 crore in Q1, from Rs 2.94 crore in corresponding quarter.
Earnings per Share (EPS) of the microfinance company stands at Rs 33.33. The microfinance’s non-performing loan (NPL) has risen to 1.48 percent in the first quarter. Currently, Net worth per share stands at Rs 131.67 and P/E ratio at 32.4 times.
Major Highlights:
|
Particulars (In Rs '000) |
MERO |
||
|---|---|---|---|
|
Q1 2075/76 |
Q1 2074/75 |
Difference |
|
|
Paid Up Capital |
328,900 |
286,000 |
15.00% |
|
Reserve & Surplus |
104,174 |
158,576 |
-34.31% |
|
Deposits |
849,500 |
552,930 |
53.64% |
|
Borrowings |
2,671,265 |
2,252,848 |
18.57% |
|
Loans & Advances |
3,649,024 |
2,564,162 |
42.31% |
|
Net Interest Income |
70,918 |
52,052 |
36.24% |
|
Provision for possible losses |
4,226 |
1,969 |
114.64% |
|
Operating Profit |
42,517 |
29,434 |
44.45% |
|
Net Profit |
27,405 |
19,017 |
44.10% |
|
NPL (%) |
1.48 |
1.31 |
12.98% |
|
Annualized EPS (In Rs.) |
33.33 |
26.60 |
25.31% |
|
Net Worth per Share (In Rs.) |
131.67 |
155.45 |
-15.29% |
|
P/E Ratio (In times) |
32.4 |
|
|
