As per the report, the company has incurred loss following huge increase in non-performing loans during the period.
In the review period, the company recorded NPL of 16.14 percent. the NPL increased by 10.62 percent compared to 5.52 percent of the corresponding period of the last FY.
Huge increase in NPL has significantly raised its impairment charges. The company that logged impairment charges of Rs 25.1 million in the review period of the last FY recorded impairment charges of Rs 278 million. Due to this, although the company raised interest income by 94.20 percent, the company incurred loss during the period.
The company incurred net loss of Rs 261.1 million in the review period. Similarly, it logged distributable loss of Rs 169.2 million and LPS of Rs 12.11.
The company with Rs 1.39 billion in paid-up capital has reserve fund of Rs 879.9 million. During the period, it collected deposit and borrowed Rs 11.32 billion and extended loan of Rs 19.55 billion.
