Summit Microfinance reports astounding profit rise by 72.43%; EPS stand at Rs.23.86

Kathmandu December 4- Summit Microfinance Development Bank Limited (SMFDB) has reported massive growth in net profit of 72.43 percent for the first quarter of the current fiscal year 2072/73.

Net profit of the finance has boosted to Rs 8.415 million from Rs 4.880 million reported in the corresponding quarter of the previous fiscal year 2071/72.

The microfinance has collected deposits of Rs 245.3 million in the 1st quarter compared to Rs 156.6 million in the corresponding quarter of last year. Likewise, loan and advance has increased from Rs 647.9 million from Rs 410.4 million.  It has borrowings of Rs 363.8 million.

Summit Microfinance net interest income has risen from Rs 12.5 million in the corresponding quarter last year to Rs 21 million in the first quarter of 2072/73.

Paid up capital of the finance remains at Rs 35.2 million with reserve of Rs 50.6 million in first quarter.

According to the financial report of first quarter, EPS of the finance stands at Rs 23.86 and net worth per share at Rs 243.50.