Mero Microfinance reports net profit of Rs 11.18 crore till Q3; adjustment of already issued 100% right shares is pending
Thu, Apr 25, 2019 9:12 AM on Financial Analysis, Latest,
Mero Microfinance Laghubitta Sanstha Limited (MERO) has reported an outstanding net profit rise by 86.58% in the third quarter.
MERO has published unaudited financial report for the third quarter today. It has stated that net profit has increased to Rs 11.18 crore in the third quarter of fiscal year 2075/76 from Rs 5.99 crore reported in the corresponding quarter of the previous fiscal year 2074/75.
The microfinance has borrowings of Rs 2.70 arba. Likewise, it extended loans of Rs 4.37 arba which is an increment from corresponding quarter of Rs 3.02 arba. It has collected deposits of Rs 1.07 arba till the third quarter of the current fiscal year.
It has paid up capital of Rs 32.89 crore with reserve of Rs 18.85 crore in Q3.
MERO’s net interest income has increased from Rs 15.22 crore in the corresponding quarter last year to Rs 25.81 crore in the third quarter of fiscal year 2075/76. Its operating profit has increased to Rs 17.57 crore in Q3, from Rs 9.41 crore in the corresponding quarter.
The annualized earnings per Share (EPS) of the microfinance company stands at Rs 45.33. The microfinance’s non-performing loan (NPL) has risen to 2.04 percent in the third quarter. Currently, Net worth per share stands at Rs 157.34 and P/E ratio at 12.33 times.
Mero Microfinance has recently issue 32,89,000 units right shares (100%) worth Rs 32.89 crore to its shareholders. Upon adjustment its paid up capital will reach to Rs 65.78 crores.
Major Highlights:
|
Particulars (In Rs '000) |
Mero Microfinance |
||
|---|---|---|---|
|
Q3 2075/76 |
Q3 2074/75 |
Difference |
|
|
Paid Up Capital |
328,900.00 |
286,000.00 |
15.00% |
|
Reserve & Surplus |
188,595.00 |
123,775.46 |
52.37% |
|
Deposits |
1,073,688.22 |
699,412.04 |
53.51% |
|
Borrowings |
2,707,928.05 |
2,271,752.07 |
19.20% |
|
Loans & Advances |
4,374,885.81 |
3,026,849.02 |
44.54% |
|
Net Interest Income |
258,110.95 |
152,285.51 |
69.49% |
|
Provision for possible losses |
14,353.87 |
5,505.45 |
- |
|
Operating Profit |
175,726.44 |
94,181.62 |
86.58% |
|
Net Profit |
111,825.92 |
59,933.73 |
86.58% |
|
Capital Adequacy (%) |
15.89 |
12.89 |
23.27% |
|
NPL (%) |
2.04 |
1.39 |
46.76% |
|
Annualized EPS (In Rs.) |
45.33 |
27.94 |
62.25% |
|
Net Worth per Share (In Rs.) |
157.34 |
143.28 |
9.82% |
|
PE Ratio (times) |
12.33 |
- |
- |
