Thursday, November 18, 2021
    Nepal Stock ExchangeIPO | FPO NewsMero Microfinance's overall profitability increased in the first quarter as a result...

    Mero Microfinance’s overall profitability increased in the first quarter as a result of an increase in business volume.

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    Mero Microfinance Laghubitta Bittiya Sanstha (MERO) has produced its first quarterly report for fiscal year 2078/2079, which shows a significant increase in net profit 297.78 percent compared to the previous year. The net profit of the company climbed to Rs. 12.85 crores in the third quarter of the current fiscal year, from Rs. 3.23 crores in the equivalent quarter of the previous year.

    Borrowing by company has climbed by 91.20 percent, to Rs. 10.83 Arba, while deposits have increased by 47.75 percent, to Rs. 2.68 Arba, in the most recent quarter operations. Similar to this, the corporation has raised loans of Rs. 15.27 till the first quarter fiscal year 2078/2079, which would be payable in arba.

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    According to company, its net interest income climbed by 140.94 percent in the first quarter of fiscal year 2078/2079 compared to the same quarter the previous year and stood at Rs. 27.19 crores in the same quarter the previous year.

    Mero Microfinance’s paid-up capital amounted at Rs. 1.00 as of first quarter of the fiscal year 2078/2079, with a reserve and surplus of Rs. 95.58 crores as of the same quarter.

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    Profitability per share (EPS) was Rs. 51.42, and net worth per share was Rs. 195.58 at time of the financial year end. The company’s non-performing loan ratio was 4.96 percent at the time of writing. Until the end of the third quarter, the company traded at a PE multiple of 27.03 times.

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