Mirmire Microfinance Development Bank reports significant rise of 74.01 percent in net profit; Mero Microfinance Development Bank reports net profit of Rs 5.99 crore

Mirmire Microfinance Development Bank (MMFDB) has published unaudited financial report for the third quarter yesterday. It has stated that net profit has significantly increased to Rs 2.12 crore in third quarter of fiscal year 2074/75 from Rs 1.22 crore reported in the corresponding quarter of the previous fiscal year 2073/74.

The microfinance has borrowings of Rs 89.43 crore.  Likewise, it extended loans of Rs 1.24 arba from Rs 74.20 crore. It has collected deposits of Rs 34.15 crore in the third quarter of the current fiscal year. It has paid up capital of Rs 4.50 crore with reserve of Rs 5.01 crore in Q3.

Net Interest income is the primary source of income for microfinance. MMFDB’s net interest income has considerably increased from Rs 4.83 crore in the corresponding quarter last year to Rs 5.93 in the third quarter of fiscal year 2074/75. Its operating profit has increased to Rs 2.67 crore in Q3, from Rs 1.66 crore in corresponding quarter.

Earnings per Share (EPS) at Rs 62.86. The microfinance’s non-performing loan (NPL) has reduced to 0.97 percent in the current quarter. Currently, Net worth per share stands at Rs 211.28 and P/E ratio at 38.98 times.

Similarly, Mero Microfinance Development Bank (MERO) reports net profit of Rs 5.99 crore; EPS stands at Rs 27.94

MERO has published unaudited financial report for the third quarter yesterday. It has stated that net profit has declined to Rs 5.99 crore in third quarter of fiscal year 2074/75 from Rs 6.93 crore reported in the corresponding quarter of the previous fiscal year 2073/74.

The microfinance has borrowings of Rs 2.27 arba.  Likewise, it extended loans of Rs 3.02 arba from Rs 2.21 arba. It has collected deposits of Rs 69.94 crore in the third quarter of the current fiscal year. It has paid up capital of Rs 28.60 crore with reserve of Rs 12.38 crore in Q3.

Net Interest income is the primary source of income for microfinance. MERO’s net interest income has marginally declined from Rs 15.47 crore in the corresponding quarter last year to Rs 15.23 crore in the third quarter of fiscal year 2074/75. Its operating profit has decreased to Rs 9.42 crore in Q3, from Rs 10.89 crore in corresponding quarter.

Earnings per Share (EPS) at Rs 27.94. The microfinance’s non-performing loan (NPL) has risen to 1.39 percent in the current quarter. Currently, Net worth per share stands at Rs 143.29 and P/E ratio at 38.3 times.