Meromicrofinance Laghubitta profit climbs by 56% in Q1

November 7, 2019 | Investopaper

Meromicrofinance Laghubitta has reported a surge in profit by 56 percent in the first quarter of the fiscal year 2076/77. The company earned a net profit of Rs. 4.27 crores, up from Rs. 2.74 crores in the previous year’s first quarter. However, the Earnings Per Share (EPS) fell to Rs. 25.98. This is due to the growth in the capital by 100 percent during this period through the issue of the right share.

The microfinance capital stands at Rs. 65.78 crores in the first quarter of this fiscal year, up from Rs. 32.89 crores. Likewise, the reserve has grown to Rs. 42.65 crores, up by 309 percent.

Until the first quarter, Meromicrofinance Laghubitta increased its loan portfolio by 34 percent to Rs. 488.21 crores. During this period, the company earned a net interest income of Rs. 11.97 crores, which is 69 percent higher than the corresponding period of the previous year.

The first-quarter report of Meromicrofinance Laghubitta is summarized in the table below:

Meromicrofinance Laghubitta first-quarter report, FY 2076/77

HEADINGS 1st QTR, 2076/77 1st QTR, 2075/76 PERCENT CHANGE
PAID-UP CAPITAL (Rs. In crores) 65.78 32.89 100.00
RESERVE (Rs. In crores) 42.65 10.42 309.31
BORROWINGS (Rs. In crores) 300.56 267.13 12.51
DEPOSITS (Rs. In crores) 131.22 84.95 54.47
LOANS  (Rs. In crores) 488.21 364.9 33.79
NET INTEREST INCOME (Rs. In crores) 11.97 7.09 68.83
PROFIT (Rs. In crores) 4.27 2.74 55.84
NON PERFORMING LOANS, NPL (%) 1.6 1.48 8.11
COST OF FUND (%) 9.24 10.35 -10.72
EARNINGS PER SHARE, EPS (Rs.) 25.98
NETWORTH PER SHARE (Rs.) 164.84
MARKET PRICE PER SHARE (Rs.) [Ashwin 30, 2076] 550
P/E RATIO 21.17

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