The company managed to increase the net profit through huge write back despite of heavy allocation to provision for possible losses.
In the review period, the company borrowed Rs 874.8 million, collected deposit of Rs 606.3 million and extended loan of Rs 1.71 billion. The company earned Rs 123.4 million in net interest income. Similarly, the company earned Rs 2.9 million in operating profit.
The company has bad debt of 1.92 percent and has allocated Rs 64.6 million in provision for possible losses. The company wrote back Rs 45.8 million during the period.
The company with Rs 191.1 million in paid-up capital has reserve fund of Rs 126.6 million. Meanwhile, it logged EPS of Rs 26.86, net worth per share of Rs 164.15 and P/E ratio of 24.57 times.
