Forward Community Microfinance Earns Net Profit of Rs 281Mn

Aug 16, 2018 Merolagani

Forward Community Microfinance (FOWAD) has increased it net profit by mere 3.14 percent to Rs 281 million in the last FY compared to Rs 272.5 million in the previous FY.

Forward Community with a paid-up capital of Rs 300 million has EPS of Rs 93.63. Similarly, it has reserve fund of Rs 738.5 million and has net worth per share of Rs 346.03.

In the review period, the company collected deposit of Rs 3.2 billion and extended loan of Rs 7.67 billion also borrowed Rs 3.8 billion.

Increase in cost of fund however contracted its net interest income to Rs 640 million which was Rs 691.6 million in the previous FY.

The bad debt of the company however increased to 0.39 percent in the review period.

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