City Express Finance Limited has published highlights for the third quarter end of FY 75/76; net profits decrease to Rs.94.95 Lakhs, paid up capital stands at Rs.40.21 Crore

City Express Finance Limited (CEFL) has published unaudited financial report for the third quarter today. It has stated that its net profit has massively fallen down to Rs.94.95 Lakhs from Rs.3.24 Crore reported in the corresponding quarter of the previous fiscal year 2074/75. Similarly, the Earning per Share (EPS) has diminished to Rs.3.16 from Rs.15.46 last year.

The finance company’s deposit collection has increased to Rs.10.65 Crore in the third quarter of the current fiscal year. It has paid up capital of Rs.40.21 Crore.

Net Interest income is the primary source of income for a finance company, which has grown from negative Rs.45.51 Lakhs to Rs.96.97 Lakhs by the end of the third quarter. Although the deposits and loans and advances have increased, CEFL’s expenses has considerably increased resulting in fall of net profit compared to the corresponding quarter of the previous year.

Currently, Net worth per share stands at Rs.53.21 and P/E ratio at 31.16 times.