World Merchant and Finance’s profit decreases by huge margin; EPS falls from Rs 37.46 to Rs 2.45

Thu, Jan 24, 2019 8:08 AM on Financial Analysis, Latest, Stock Market,
World Merc...

World Merchant and Finance Limited (WMBF) has reported decrease in net profit in the second quarter with a diminished reserved of Rs 23 crore.

The unaudited financial report of the finance company has stated that the net profit has decreased to Rs 32.60 lakh from previous of Rs 3.41 crore.

It has extended loans of Rs 17.79 crore and has collected deposits of Rs 7.44 crore. It has paid up capital of Rs 26.56 crore with diminished reserve of Rs 23 crore.

Net interest income has decreased to Rs 26.01 lakh in the second quarter. The operating loss has increased to Rs 3.26 crore.

The finance company’s non-performing loan (NPL) stands at 100% in the second quarter.

The EPS of the company stands at Rs 2.45 and Net worth per share at Rs 13.43.