Progressive finance limited has published its first quarter report of Fiscal year 2075/76.
As per the published report, the Finance has reported increased in net profit to Rs.1.78 crore in this Q1 from the loss of Rs.1.09 crore in the corresponding quarter of last fiscal year 2074/75.
It has deposit collection of Rs. 70.75 crore. It had extended in loan & advances of Rs. 261.06 crore. Deposit increased by 9.72% & loan & advances increased by 5.50%.
Its net interest income increased to Rs 48.72 lakh from Rs.1.47 crore in the last corresponding quarter. It has operating loss of Rs.65.48 lakh.
Increased in net profit despite of decreased in net interest income & operating loss is due write back of provision of possible losses. The finance is able to write back of Rs.2.67 crore.
Its paid up capital is Rs.21 crore with reserves fund of Rs.8.55 crore.
Its non performing loan (NPL) stands at 1.91% from 2.44% from the last year.
Earning per share (EPS) stands at Rs.8.49, net worth per share at Rs.114.77 and PE ratio stands at 12.02 times.
