MyMicoFinance Shows Strong Growth: Q4 Results Surge!
Hey everyone! Let’s dive into some exciting news from the Nepalese microfinance sector. MyMicroFinance Laghubitta Bittiya Sanstha Limited has just released its quarterly financial results for the last fiscal year (ending in the fourth quarter), and the numbers are impressive!
The microfinance institution announced a whopping 216 million Nepalese rupees in net profit for the fourth quarter. That’s a massive jump of 48.29% compared to the same period the previous year! To give you some context, the previous year’s net profit stood at 145.7 million rupees. This strong performance underscores the ongoing strength of microfinance in Nepal.
What’s driving this impressive growth? Well, a significant factor is the increase in the institution’s net interest income. Net interest income climbed from 881.6 million rupees to an impressive 1.05 billion rupees. This robust interest income directly contributed to the overall profitability. This performance reflects excellent financial management within the institution.
Let’s break down some more key figures:
- Paid-up capital: This microfinance company boasts a paid-up capital of 1.419 billion rupees, a solid foundation for future growth.
- Reserve fund: The institution’s reserve fund stands at 711.4 million rupees, demonstrating financial stability. This suggests the institution is well-prepared for unforeseen circumstances and future investment opportunities.
- Earnings per share (EPS): The EPS for MyMicroFinance is 15.23 rupees. EPS is an important indicator of the company’s profitability and how well it is performing in comparison to other financial institutions.
- Net worth per share: The net worth per share is an impressive 158.11 rupees, suggesting a healthy financial position of the institution.
- Dividend distribution capacity: The dividend distribution capacity is at 7.97%. This provides some insights into the institution’s ability to distribute dividends to investors in the coming future.
These figures collectively paint a very positive picture for MyMicroFinance. This good news reaffirms the importance of microfinance in fostering economic growth and financial inclusion across Nepal. Keep an eye on this promising microfinance company and the Nepalese financial market! We will continue to provide updates on the Nepalese financial sector here!
