The company earned a net loss of Rs 13 million in the review period compared to net profit of Rs 24.1 million of the corresponding period of the last FY.
Although, the company increased its net interest income, increase in impairment charge has brought down its profit to loss.
In the review period, the net interest income of the bank increased by to Rs 102.1 million compared to Rs 63.6 million of the last FY.
Similarly, its total operating income increased to Rs 117.2 million from Rs 100.3 million of the last FY.
During the period, it impairment charge increased to Rs 43 million from Rs 2.6 million of the last FY which is the reason for the decline in operating profit and net profit.
The company logged a distributable loss of Rs 25.4 million.
The company with Rs 848.1 million in paid-up capital has retained loss of Rs 25.4 million and reserve fund of Rs 86.8 million.
