Best Finance reports improved operational performance, Non-Performing loan declines to 21.7%
Wed, Jan 30, 2019 11:51 AM on Financial Analysis, Latest, Stock Market,
Best Finance Company (BFC) has published its unaudited financials for the second quarter of the fiscal year 2075/76.
The net profit of the company has increased slightly by 0.52% from Rs 3.59 crore in the corresponding quarter of the last fiscal year to Rs. 3.61 crore till Poush in Q2 of FY 2075/2076. However, negative reserve has increased by 94.14% to Rs 16.47 crore from Rs 8.44 crore in the corresponding quarter of last FY.
The finance company has collected a total deposit of Rs 2.33 arba which is 1244.32% more than the deposit of Rs 17.37 crore in corresponding period of FY 2074/2075.
The bank has floated Rs 2.17 arba as loans and advances for the second quarter of the FY 2075/76 – an increment of 961.23% from the last year’s corresponding quarter. Net interest income of the company has increased by 542% in this quarter to Rs 7.82 crore from Rs 1.21 crore in the corresponding quarter of last fiscal year.
The Non-Performing Loan (NPL) of finance company has decreased to 21.70% in this quarter from 72.07% in the corresponding quarter of last FY. EPS stands at Rs. 8.92 and P/E ratio at 11.44 times.
Earlier, Best Finance Company had acquired National level based Synergy Finance Limited at 1 :1 swap ratio. That is why there is such huge variation in most of the indicators mentioned in the published report.
Major Highlights:
|
Particulars (In Rs '000) |
Best Finance Limited |
||
|---|---|---|---|
|
Q2 2075/76 |
Q2 2074/75 |
Difference |
|
|
Paid Up Capital |
810,016 |
286,699 |
182.53% |
|
Reserve & Surplus |
-164,799 |
-84,481 |
- |
|
Deposits |
2,334,973 |
173,692 |
1244.32% |
|
Loans & Advances |
2,175,328 |
204,981 |
961.23% |
|
Net Interest Income |
78,227 |
12,185 |
541.99% |
|
Write Back of Provision for Possible Losses |
46,893 |
38,968 |
20.34% |
|
Operating Profit |
12,373 |
214 |
5681.78% |
|
Net Profit |
36,124 |
35,938 |
0.52% |
|
NPL (%) |
21.7 |
72.07 |
-69.89% |
|
Annualized EPS (in Rs.) |
8.92 |
25.07 |
-64.42% |
|
Net Worth Per Share (in Rs.) |
79.65 |
70.53 |
12.93% |
| P/E ratio | 9.42 | ||
