Net profit of Mero Microfinance grows by 32.55% in Q2 of 2076/77; Net worth per share at Rs 131.35

Mero Microfinance Laghubitta Bittiya Sanstha Limited (MERO) has reported arise in net profit by 32.55% 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.8.19 Crore in the second quarter of fiscal year 2076/77 from Rs.6.18 Crore reported in the corresponding quarter of the previous fiscal year 2075/76.

The microfinance has borrowings of Rs.3.57 Arba. Likewise, it extended loans of Rs.5.13 Arba which is an increment from corresponding quarter of Rs.3.99 Arba. It has collected deposits of Rs.1.45 Arba till the second quarter of the current fiscal year.

It has paid up capital of Rs.85.51 Crore with reserve of Rs.26.80 Crore in Q2.

MERO’s net interest income has increased from Rs.15.07 Crore in the corresponding quarter last year to Rs.24.19 Crore in the second quarter of fiscal year 2076/77. Its operating profit has increased to Rs.11.07 Crore in Q2, from Rs.9.72 Crore in the corresponding quarter.

The annualized earnings per Share (EPS) of the microfinance company stands at Rs.19.18. The microfinance’s non-performing loan (NPL) has decreased to 1.80 percent in the second quarter. Currently, Net worth per share stands at Rs.131.35 and P/E ratio at 31.39 times.

Second Quarter Report