Mirmire Net Profit 1.47 crore Vs 0.84 crore (YoY); EPS of Rs 65.6

Mirmire Microfinance has shown an enormous growth of 75.76%  in its Net Profit. The Net has increased to Rs 1.47 crores from Rs 0.84 crores in the corresponding quarter of last FY. The Company now has an EPS of Rs 65.6

The major contributor for the progress is the surge in Other operating Income, this has leaped by massive 239% to Rs 2.12 crores. The Net Interest Income has increased by 19.84%. A significant Increase of 76% is seen in the Company's Operating Income, with this rising to Rs 2 crores. 

Company's Staff expense has increased by nearly 52% to Rs 2.31 crores. 

MMFDB's borrowing rose to Rs 80 crores from Rs 49.63 crores last year, accounting a growth of 61.19%. Whereas lending has growth by 92.11%. Company currently has a NPL of 1.18%

MMFDB's reserve has increased by 25.62% to Rs 2.97 crores in the review period. The Net  worth per shares amounts to Rs 166.06. 

Positive Sides:

• Decent growth in Net Interest Income
• Tremendous growth in Other Operating Income
• Rise in Operating Profit and ultimatey Net Profit. 
• EPS as high as 65.6
• ROE as high as 32.81%

Negative Sides:

• Huge growth in Interest Expense (255.25%)
• CAR as low as 9.01%
• Rise in Cost of Fund