Mero Microfinance reports outstanding growth of almost 80% in net profit of Rs 6.19 crore in Q2; EPS stands Rs 37.62
Sun, Jan 27, 2019 10:25 AM on Financial Analysis, Latest, Stock Market,
Mero Microfinance Laghubitta Sanstha Limited (MERO) has reported net profit rise by 74.04% to Rs 6.19 crore in the second quarter.
MERO has published unaudited financial report for the second quarter today. It has stated that net profit has increased to Rs 6.19 crore in the second quarter of fiscal year 2075/76 from Rs 3.55 crore reported in the corresponding quarter of the previous fiscal year 2074/75.
The microfinance has borrowings of Rs 2.64 arba. Likewise, it extended loans of Rs 3.99 arba which is an increment from corresponding quarter’s Rs 2.66 arba. It has collected deposits of Rs 96 crore in the second quarter of the current fiscal year.
It has paid up capital of Rs 32.89 crore with reserve of Rs 13.86 crore in Q2.
MERO’s net interest income has increased from Rs 10.29 crore in the corresponding quarter last year to Rs 15.08 crore in the second quarter of fiscal year 2075/76. Its operating profit has increased to Rs 9.72 crore in Q2, from Rs 5.43 crore in the corresponding quarter.
Earnings per Share (EPS) of the microfinance company stands at Rs 37.62. The microfinance’s non-performing loan (NPL) has risen to 1.87 percent in the second quarter. Currently, Net worth per share stands at Rs 142.15 and P/E ratio at 28.47 times.
MERO 100% right share in SEBON pipeline. Upon adjustment its paid up capital will Rs 65.78 crores.
Major Highlights:
| Particulars (In Rs '000) | MERO | ||
|---|---|---|---|
| Q2 2075/76 | Q2 2074/75 | Difference | |
| Paid Up Capital | 328,900 | 286,000 | 15.00% |
| Reserve & Surplus | 138,628 | 98,385 | 40.90% |
| Deposits | 960,042 | 623,005 | 54.10% |
| Borrowings | 2,637,372 | 2,078,835 | 26.87% |
| Loans & Advances | 3,994,737 | 2,664,268 | 49.94% |
| Net Interest Income | 150,768 | 102,860 | 46.58% |
| Provision for possible losses | 8,977 | 2,939 | 205.47% |
| Operating Profit | 97,206 | 54,282 | 79.07% |
| Net Profit | 61,858 | 34,543 | 79.07% |
| NPL (%) | 1.87 | 1.28 | 46.09% |
| Annualized EPS (In Rs.) | 37.62 | ||
| Net Worth per Share (In Rs.) | 142.15 | ||
| P/E Ratio (In times) | 28.47 | ||
