Summit Microfinance Development Bank reports 50% surge in net profit to Rs 2.52 crore; net worth per share at Rs 189

Summit Microfinance Development Bank (SMFDB) has registered a net profit growth of 50.56% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the microfinance today, its net profit has increased to Rs 2.52 crore in second quarter, up from Rs 1.67 crore in the corresponding quarter of the previous fiscal year. SMFDB’s net interest income has risen to Rs 5.75 crore in Q2 as compared to Rs. 4.23 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 7.25 crore with a reserve of Rs 7.10 crore. The bank has borrowed Rs 41.63 crore in Q2, down from Rs 44.04 crore in the corresponding quarter of the previous year. Likewise, it has extended loans and advances of Rs. 93.79 crore in Q2 whereas in the same period last year, the figure stood at Rs 65.67 crore. SMFDB’s annualized Earnings per Share (EPS) has increased to Rs 69.69 per share up from Rs 67.12 per share. Its net worth stands at Rs 189.05 and P/E ratio at 77.14 times. Its 18^th AGM has endorsed 45% bonus share and right share of 100%. After the issuance of right and bonus share, the paid up capital of the microfinance company will reach Rs 21.20 crore.