Mero Microfinance Increases Net Profit by 44%

Nov 02, 2018 Merolagani

Mero Microfinance (MERO) has increased its net profit by 44 percent to Rs 27.4 million in the first quarter of the current FY compared to Rs 19 million of the corresponding period of the last FY.

In the review period, the company increased its deposit by 53.64 percent to Rs 849.5 million, borrowing by 18.57 percent to Rs 2.67 billion and loan extension by 42.31 percent to Rs 3.64 billion.

Similarly, it increased its net interest income by 36.24 percent to Rs 70.9 million. It earned Rs 42.5 million in operating profit during the period.

The company that has a paid-up capital of Rs 328.9 million has EPS of Rs 33.33 which was Rs 26.60 during the last period.

The company has reserve fund of Rs 104.1 million, bad debt ratio of 1.48 percent, net worth per share of Rs 131.67 and P/E ratio of 32.40 times.

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