Nerude Mirmire Laghubitta Bittiya Sanstha Limited reported a net loss of Rs 2.79 crore in the first quarter of fiscal year 2083/84, compared to a net profit of Rs 5.53 crore in the same period last fiscal year.
The microfinance company's net interest income declined 28.36% to Rs 28.89 crore from Rs 40.33 crore in the corresponding quarter. Operating profit also fell into negative territory, recording a loss of Rs 3.07 crore against an operating profit of Rs 7.60 crore a year earlier.
The company's impairment charges increased by 16.26% to Rs 10.27 crore, while personnel expenses declined 8.92% to Rs 20.79 crore.
During the review period, deposits increased marginally by 0.57% to Rs 774.05 crore, while borrowings rose 5.64% to Rs 1.03 arba. Loans and advances to customers grew by 0.71% to Rs 1.95 arba.
However, non-performing loan (NPL) ratio increased to 21.73% from 15.70% in the same quarter last year. Its capital adequacy ratio declined to 9.17% from 10.27%, while the cost of funds increased to 6.89% from 6.55%.
The company's earnings per share (EPS) stood at negative Rs 8.01, compared to Rs 15.84 in the corresponding period last year. Net worth per share stood at Rs 184.40.
