In the review period, the company incurred net loss of Rs 62.8 million compared to Rs 21.3 million of the corresponding period of the last FY.
Although the company increased its income huge increase in bad debt pulled up its net loss during the period.
In the review period, its net interest income increased by 8.13 percent and net fee and commission income by 176.19 percent. Similarly, its total operating income also increased by 17.57 percent.
Meanwhile, its bad debt increased to 19.34 percent from previously 4.68 percent which raised its impairment charges to Rs 61.3 million from Rs 6.2 million.
During the period, the company logged LPS of Rs 15.34 and distributable loss of Rs 680.1 million.
The company with Rs 818.9 million in paid-up capital has reserve loss of Rs 407.8 million. In the review period, the company collected deposit of Rs 2.58 billion and extended loans of Rs 1.57 billion.
