Kathmandu. MeroMicrofinance Microfinance Finance Company has released the financial statements for the fourth quarter of the last fiscal year. According to the financial statements of the organization, the profit has increased.

In the fourth quarter of the last fiscal year, the company has earned a net profit of Rs 216 million. This profit is 48.29 percent higher than the same period of the previous fiscal year. The company had posted a net profit of Rs 145.7 million in the fourth quarter of the previous fiscal year.

Net interest income of the company increased by 19.13 percent to Rs 1.05 billion during the review period. The company’s net fee and commission income increased from Rs 99.5 million to Rs 100.7 million. The company has a net operating income of Rs 1.03 billion and operating expenses of Rs 704.1 million.

The company’s retained earnings have reached Rs 113.1 million from Rs 107.1 million in the previous fiscal year. The company’s reserve size has also increased from Rs 616.7 million to Rs 711.4 million. The institution, which collected deposits worth Rs 3.98 billion, has disbursed loans worth Rs 15.01 billion.

The company’s bad loan ratio increased from 8.23 percent to 9 percent. It has reached 99 percent. The company has made a provision of Rs 117.3 million for the employment charge. Similarly, the company’s distributable profit is Rs 113.1 million while the dividend capacity is 7.47 percent.

During the review period, the company’s earnings per share stood at Rs 15.23, net worth per share at Rs 158.11, total asset value per share at Rs 1,093.84, price earnings ratio at 55.59 times and liquidity ratio at 1.69 percent.