Propelled by core business, Nerude’s Q1 profit surges by 239%, net profit crosses Rs 1 crore
Thu, Nov 14, 2013 12:00 AM on Others,
ShareSansar, November 14:
Nerude Laghu Bitta Bikas Bank has re-published its quarterly financial report today after there was some technical problem in the initial report published yesterday.
According to the unaudited report made public by the microfinance development bank today, it has posted an impressive net profit of Rs 1.06 crore in the first quarter, up from Rs 29.46 lakh in the corresponding quarter last year.
Its operational profit has also surged to Rs 1.67 crore from Rs 46.30 lakh and its net interest income has also risen from Rs 2.80 crore to Rs 3.95 crore.
Another good aspect of the report it that its non performing loan has also decreased from 1.47 percent to 1.18 percent.
Nerude had mobilized Rs 41.30 crore in deposit and Rs 1 arba in loan in the first quarter compared to Rs 30.96 crore in deposit and Rs 73.66 crore in loan in the corresponding quarter.
Its borrowing has risen to Rs 63.07 crore from Rs 42.27 crore in the corresponding quarter.
The EPS of the microfinance based in Biratnagar stands at Rs 16.58 and per share net worth at Rs 236.81.
