Support Microfinance Reports 104% Profit Increase and Positive Growth in Key Indicators

Support Microfinance Financial Institution Limited has reported a significant improvement in its profits. According to the unaudited financial statement for the second quarter of the current fiscal year, the profit has increased by 104.83%.

In the first six months of the current fiscal year, the microfinance company earned a net profit of NPR 3.17 million, marking a 104.83% growth compared to the same period last year, when it had earned NPR 1.55 million. The substantial growth in net profit is attributed to the rise in interest income and operational profits.

The company also saw a 73.20% increase in its interest income, while other operating profits grew by 11.90%. Furthermore, the total operating income and operating profit increased by 60.21% and 73.83%, respectively. As of the second quarter, the company’s impairment charge stood at NPR 1.665 million, and its distributable profit amounted to NPR 44 million. The earnings per share for the company stood at NPR 71.92.

Along with the profit, the earnings per share also saw an increase, rising by NPR 26.55 to reach NPR 51.87. As of the end of December, the company’s price-to-earnings ratio was 34.37 times, and the net worth per share stood at NPR 189.01. With a paid-up capital of NPR 12.24 million, the microfinance institution has accumulated a reserve fund of NPR 10.89 million.