High provision leads to 16.70% decline in net profit of Forward Community Microfinance in Q4; EPS still stand at Rs 50.18
Sun, Aug 16, 2020 5:36 AM on Company Analysis, Latest,
Forward Community Microfinance Bittiya Sanstha Limited (FOWAD) has published an unaudited financial report for the fourth quarter of FY 2076/77 today. It has stated that its net profit has decreased by 16.70% to Rs 25.11 crore in the fourth quarter of fiscal year 2076/77 from Rs 30.14 crore reported in the corresponding quarter of the previous fiscal year 2075/76. The decline in net profit is due to a high provision amount of Rs 13.81 crore.
Likewise, it extended loans of Rs 11.67 arba till Q4 with 15.96% growth. It has collected deposits of Rs 5.61 arba and borrowed Rs 5.95 arba till the fourth quarter. It has paid-up capital of Rs 50.04 crore with reserve and surplus of Rs 92.42 crore.
Its net interest income has also decreased by 2.06% to Rs 73.52 crore from Rs 75.06 crore in the corresponding quarter. Its operating profit has decreased to Rs 39.44 crore in Q4, from Rs 47.68 crore in the corresponding quarter.
The company earnings per share (EPS) stand at Rs 50.18 and non-performing loan (NPL) has increased to 4.67% from 0.47%. The Net worth per share stands at Rs 284.70 and quarter-end PE is 32.90 times as per the fourth-quarter report.
Major Highlights:
|
Particulars (In Rs '000) |
Forward Community Microfinance |
||
|---|---|---|---|
|
Q4 2076/77 |
Q4 2075/76 |
Difference |
|
|
Paid Up Capital |
500,415.00 |
500,415.00 |
0.00% |
|
Reserve & Surplus |
924,274.00 |
764,577.00 |
20.89% |
|
Deposits |
5,611,778.00 |
4,621,659.00 |
21.42% |
|
Borrowings |
5,950,440.00 |
4,999,403.00 |
19.02% |
|
Loans & Advances |
11,675,797.00 |
10,068,968.00 |
15.96% |
|
Net Interest Income |
735,206.00 |
750,674.00 |
-2.06% |
|
Staff Expenses |
311,718.00 |
295,610.00 |
5.45% |
|
Provision for possible losses |
138,152.00 |
50,338.00 |
- |
|
Write Back of Provision for Possible Losses |
97.00 |
0.00 |
|
|
Operating Profit |
394,489.00 |
476,887.00 |
-17.28% |
|
Net Profit |
251,100.00 |
301,429.00 |
-16.70% |
|
Capital Adequacy (%) |
11.54 |
12.29 |
-6.10% |
|
NPL (%) |
4.67 |
0.47 |
|
|
Cost of Fund (%) |
10.01 |
9.83 |
1.83% |
|
EPS (In Rs.) |
50.18 |
60.24 |
-16.70% |
|
Net Worth per Share (In Rs.) |
284.70 |
252.79 |
12.62% |
|
PE Ratio (times) |
32.90 |
- |
- |
|
Qtr End Price |
1,651.00 |
- |
- |
|
PB Ratio (times) |
5.8 |
- |
- |
