NMB Microfinance posts Rs. 6.38 crore net profit in FY 2080/81, reversing last year’s losses.
NMB Microfinance Financial Institution Limited has reported a net profit of Rs. 6 crore 38 lakh for the fiscal year 208/82, according to its unaudited financial statements up to the fourth quarter. This is a significant turnaround from the same period last year when the company recorded a net loss of Rs. 5 crore 29 lakh.
The main drivers behind this profit increase are a substantial rise in net interest income and a negative impairment charge, which positively impacted earnings.
Up to the fourth quarter, NMB Microfinance’s net interest income increased by 61.83%, reaching Rs. 43 crore 55 lakh. Similarly, net fee and commission income grew by 42.25%, amounting to Rs. 5 crore 88 lakh. The company’s operating profit surged from a negative Rs. 5 crore 32 lakh last year to Rs. 6 crore 88 lakh this year.
The impairment charge declined from Rs. 1 crore 10 lakh to a negative Rs. 3 crore 5 lakh, contributing to improved profitability.
During the review period, the microfinance collected deposits and borrowings totaling Rs. 5 billion 90 crore and disbursed loans amounting to Rs. 6 billion 75 crore.
NMB Microfinance’s paid-up capital stood at Rs. 72 crore 14 lakh. The distributable profit was Rs. 4 crore 75 lakh, while the reserve fund accumulated Rs. 29 crore 29 lakh. The earnings per share (EPS) was Rs. 8.85, with distributable EPS at Rs. 6.59. The net worth per share was Rs. 140.61.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
