Mero Microfinance reports decline in Net Profit; Non-performing loan increases to 3.08%
Thu, Nov 12, 2020 9:46 AM on Latest, Company Analysis,
Mero Microfinance Laghubitta Bittiya Sanstha (MERO) has published its first-quarter report of FY 2077/2078 with a decrease in Net Profit by 24.37%. As per the report published by the company, the net profit decreased to Rs. 3.23 crores as compared to Rs. 4.27 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 88.49% to Rs. 5.66 Arba which was Rs. 3.00 Arba in the corresponding quarter of the previous year. The company’s loans and advances increased by 54.46% to Rs. 7.54 Arba in this quarter.
The net interest income (core revenue) has decreased by 5.72% to Rs. 11.28 crores compared to Rs. 11.97 crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 85.51 crores in this quarter and its reserve and surplus increased to Rs. 38.65 crores.
Its annualized earnings per share (EPS) stands at Rs. 15.12. The net worth per share stood at Rs. 145.21. The company traded at a P/B multiple of 5.10 times.
Financial Highlights:
|
Particulars |
Mero Microfinance Laghubitta Bittiya Sanstha Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
855,140.00 |
657,800.00 |
30.00% |
|
Reserve & Surplus |
386,574.58 |
426,523.64 |
-9.37% |
|
Borrowings |
5,665,124.26 |
3,005,594.40 |
88.49% |
|
Deposits |
1,810,756.12 |
1,312,229.33 |
37.99% |
|
Loans and Advances |
7,540,661.80 |
4,882,074.12 |
54.46% |
|
Net Interest Income |
112,876.17 |
119,721.02 |
-5.72% |
|
Provision for possible losses |
40,048.35 |
14,593.47 |
- |
|
Operating Profit |
10,778.70 |
57,612.33 |
-81.29% |
|
Net Profit |
32,315.01 |
42,729.61 |
-24.37% |
|
Capital Adequacy Ratio (%) |
13.93% |
20.99% |
- |
|
NPL (%) |
3.08% |
1.60% |
- |
|
Cost of Fund (%) |
6.01% |
9.24% |
- |
|
Annualized EPS (In Rs.) |
15.12 |
25.98 |
-41.83% |
|
Net Worth per share (In Rs.) |
145.21 |
164.84 |
-11.91% |
|
Price to earnings (times) |
5.10 |
- |
- |
