The net profit earning is attributed to the recovery of huge non-performing loan during the review period. The non-performing loan that was 4.77 percent in the review period of the last FY declined to 1.70 percent in the current review period.
The decline in non-performing loan also brought down provision for possible loss of the company to Rs 1.2 million from earlier 6.6 million. By the end of the first quarter, the company collected non-performing loan of Rs 2.2 million.
The company with Rs 60 million in paid-up capital has reserve fund of Rs 4.1 million.
During the period, the company collected deposit of Rs 80.5 million, borrowed Rs 321.2 million and extended loan of Rs 460.4billion. Similarly, the company earned net interest income of Rs 5.8 million. The company, however, occurred operating loss of Rs 1.1 million.
During the review period, the company maintained EPS of Rs 4.57, P/E ratio of 84.19 times and net worth per share of Rs 106.84.
