Summit micro finance net profit upswings by   33.77 % in Q4; EPS at Rs 74.47

Summit Microfinance Development Bank has reported net profit increment by 33.77% for the fourth quarter of the fiscal year 2072/73. The finance company earned Rs 3.72 in Q4 of the last fiscal year compared to the net profit Rs 2.78 crore of the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for the fourth quarter today, the microfinance company has stated that it has borrowings of Rs 41.47 crore in Q4 increasing from Rs 33.59 crore of the previous year corresponding quarter. Summit Micro Finance has collected deposit amount of Rs 32.81 crore and mobilized loans of Rs 76.95 crore in Q4. The deposit and loan and advance figure stood at Rs 22.33 crore and Rs 59.37 crore respectively in previous year corresponding quarter. The microfinance company’s net interest income increased to Rs 8.82 crore from Rs 6.49 crore in the Q4 of FY 2072/73.Its operating profit increased to Rs 5.85 crore . Summit Micro Finance’s paid up capital remains at Rs 5crore with reserve of Rs 5.89 crore in Q4. Its Non-Performing Loan increased to 0.41% from 0.33%. Its EPS now stands at Rs 74.47, net worth per share at Rs 217.86, and P/E ratio at 33.84 times.