Significant Decrease in Net Profit of Samata Microfinance

Feb 05, 2018 Merolagani

The profit of Samata Microfinance (SMATA) has decreased drastically in the second quarter of the current FY. A significant increase in expenses has dragged its net profit to Rs 4.04 million from Rs 12.2 million of the corresponding period of the last FY.

 

The company raised its net profit by issuing IPO of 95,000 units and distributing 20 percent bonus share.

During the period, the company collected deposit of Rs 185.7 million and extended loan of Rs 506.6 million. Similarly, the company earned a net interest income of Rs 17.3 million in the review period.

Likewise, the operating profit of the company has contracted to Rs 2.6 million following the increase in employee expenses by Rs 6.1 million and operating expenses by Rs 2.3 million.

The company has non-performing loan of 1.32 percent and has maintained a provision for possible loss of Rs 4.2 million.

The company that has a paid-up capital of Rs 37.9 million has a reserve fund of Rs 14.2 million.

It has EPS of Rs 21.35 and net worth per share of Rs 137.66.

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