The net profit increased by Rs 17.4 million compared to Rs 8.8 million of the corresponding period of the previous FY.
An increase in net interest and operating profit as well as right-back of provision for possible losses can be attributed to the increase in net profit.
During the period, the company earned Rs 89.1 million in net interest income which is Rs 9.4 million more than that of the previous FY. Similarly, it has a net operating profit of Rs 32.6 million during the period.
Meanwhile, its non-performing loan declined to 1.27 percent from 2.22 percent.
The company with Rs 70 million in paid-up capital has a reserve fund of Rs 86 million. The company collected deposits of Rs 514.5 million, borrowed Rs 3.5 million and extended loans of Rs 1.02 billion in the review period.
