Although the company increased its net interest income during the period, increase in operating and employee expenses and non-performing loan as well as decrease in other income attributed to the decline in its net profit.
During the period, the company collected deposit of Rs 424.1 million, borrowed Rs 968 million and extended loan of Rs 1.45 billion. Through this, the company earned net interest income of Rs 46.6 million in the review period.
Similarly, the operating profit of the company decreased to Rs 5.1 million during the period. Likewise, the other operating income decreased by Rs 6 million and employee expenses and other operating expenses increased by Rs 2.1 million and 5.2 million respectively.
The company with Rs 106.6 million in paid-up capital has reserve fund of Rs 20.2 million. During the period, the company maintained provision for possible losses of Rs 6.4 million and recovered Rs 6.5 million of bad debt.
During the review period, the company recorded non-performing loan of 4.60 percent, EPS of Rs 6.98, P/E ratio of 118.91 times and net worth per share of Rs 160.81.
