As per the report, the net profit of the company has decreased in the review period compared to the corresponding period of the previous FY.
The company earned net profit of Rs 401,000 in the review period compared to Rs 30.1 million of the corresponding period of the previous FY. The net profit decreased by 98.67 percent during the review period.
Increase in non-performing loans due to which increase in provision for possible losses pulled down its net profit.
In the review period, its net interest income decreased by 20.03 percent and other operating income by 37.64 percent. Similarly, its total operating income declined by 22.89 percent and has operating loss of Rs 26.1 million.
During the period, its non-performing loans increased to 9.05 percent from 5.06 percent. The company maintained provision for possible losses of Rs 28 million which caused operating loss, however, increase in non-operaitng income helped to record profit for the company.
During the period, the company logged EPS of Rs 0.28 and net worth per share of Rs 151.58.
The company with Rs 145.2 million in paid-up capital and reserve fund of Rs 74.8 million. The company borrowed Rs 497.5 million, collected deposit of Rs 1.21 billion and extended loans of Rs 1.21 billion.
