First Microfinance published its third quarter financial statements; Profit increased by 12 percent

Kathmandu, April 16

First Microfinance Laghubitta Bittiya Sanstha Ltd. has released its third quarter financial statements for the current fiscal year on Friday.

According to the report, the company’s net profit increased by 12.94 percent in the corresponding period of the previous year. The company had a net profit of Rs. 8 crore 66 lakh in the corresponding period of the previous year, while this year it has increased and reached to Rs. 9 crore 78 lakh. The increase in net profit was due to increase in net interest income and operating profit in the third quarter of the current fiscal year.

Compared to the third quarter of last year, net interest income has increased by 33 percent and operating profit by 13 percent in the same period of the current fiscal year. The company’s paid-up capital is Rs. 87 crore 68 lakh and in the reserve fund Rs. 23 crore 35 lakh has been accumulated.

In the third quarter of the current fiscal, the company’s earnings per share stood at Rs. 14.89, price-to-earnings ratio at 59.39, liquidity ratio at 8.32 percent and per share net worth at Rs. 126.64.