RMDC profit decline by 49.55%, earns Rs 3.44 crore in Q1

ShareSansar, November 14:

Rural Micro Finance Development Centre Limited (RMDC) reported 49.55 percent decline in its net profit for the first quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the first quarter today, the bank has stated that its net profit has decline to Rs 3.44 crore down from Rs 6.82 crore as compared to the corresponding quarter of the last fiscal year 2070/71.

The net interest income rose slightly to Rs 6.81 crore up from Rs 6.51 crore as compared to the corresponding quarter.

RMDC provision Rs 1.22 crore in provision for possible losses heading. It has borrowed Rs 3.38 arba and mobilized Rs 3.20 arba in loan and advances during the given period.

Its non-performing loan is zero which proves to be an outstanding result.

Its annualized EPS stands at Rs 26.47, per share net worth at Rs 310.66 and the P/E ratio is 30.22 times.