Forward Community Microfinance Bittiya Sanstha Limited (FOWAD) has stated meager fall in net profit by 0.92 percent in the second quarter (Q2) of the current fiscal year 2074/75.
Publishing the unaudited financial report for the second quarter today, the microfinance company stated that its net profit falls to Rs 14.54 crore in the Q2 of current fiscal year 2074/75, down from Rs 14.68 crore in the corresponding period of the previous fiscal year 2073/74.
Its net interest income has also fallen from Rs 32.74 crore in corresponding quarter to Rs 31.05 crore in the second quarter.
Its paid up capital remains at Rs 20 crore with reserve of Rs 70.29 crore in Q2. Its paid up capital will reach to Rs 30 crore after distribution of 50% bonus shares from the net profit of FY 2073/74.
The company has borrowings of Rs 3.63 arba in the second quarter, up from Rs 3.11 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 6.49 arba in Q2 whereas in the same period last year the figure stood at Rs 5.44 arba.
Its non-performing loan (NPL) has increased to 0.67% in Q2 from 0.27% in the previous year report.
Its annualized earning per share (EPS) stands at Rs 145.45 and net worth per share at Rs 451.45.