World Merchant Bank and Finance publishes highlights for the fourth quarter; continues to report fall in major indicators

World Merchant and Finance Limited (WMBF) has reported decrease in net profit in the fourth quarter with a negative reserves of Rs.22.93 Crore.

The unaudited financial report of the finance company has stated that the net profit has decreased to Rs.48.94 Lakhs from previous of Rs.4.15 Crore.

It has extended loans of Rs.17.43 Crore and has collected deposits of Rs.7.52 Crore. It has paid up capital of Rs.26.56 Crore with diminished reserve of Rs.22.93 Crore.

Net interest income has decreased to Rs.70.28 Lakh in the fourth quarter. The operating loss has increased to Rs.78.76 Lakhs as per the latest financial reports.

The finance company’s non-performing loan (NPL) to total loan stands at 100% in the fourth quarter as well.

The annualized EPS of the company stands at Rs.2.69 and Net worth per share at negative Rs.25.49. The PE Ratio stands at 173.13 times.