Despite decline in core business revenue of ICFC finance in Q2, what led to increase in its net profit?
Thu, Jan 28, 2021 8:46 AM on Latest, Company Analysis,
ICFC Finance Limited (ICFC) reported a Net Profit of Rs. 12.25 crores. This is an increase by 49.53% compared to the corresponding quarter of previous year.
It reported net interest income (core business revenue) of Rs. 15.75 crores in Q2. This is a decrease by 29.06% compared to corresponding quarter of previous year. However, the company reported Rs. 15.36 crores of other operating income which boosted the net profit in Q2.
The bank has collected deposits of Rs. 14.14 Arba while it has mobilized loans and advances of Rs. 8.94 Arba till Q2 of FY 2077/2078.
ICFC Finance has a paid-up capital of Rs. 1.02 Arba and reported Rs. 39.13 crores reserve in this quarter.
The Earnings per Share (annualized) stood at Rs. 23.93 and net worth per share stands at Rs. 138.20. The Company traded at a P/E multiple of 11.62 times.
Major Highlights:
|
Particulars |
ICFC Finance Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,024,265.80 |
926,502.00 |
10.55% |
|
Reserve & Surplus |
391,301.73 |
407,706.61 |
-4.02% |
|
Deposit from Customers |
14,147,361 |
12,638,486 |
11.94% |
|
Loans & Advances |
8,941,060 |
8,966,484 |
-0.28% |
|
Net Interest Income |
157,579.51 |
222,125.36 |
-29.06% |
|
Impairment Charge/(Reversal) for loans |
37,213.27 |
29,448.55 |
- |
|
Operating Profit |
174,733 |
112,977.64 |
54.66% |
|
Net Profit |
122,570.42 |
81,970.78 |
49.53% |
|
Capital Adequacy (%) |
13.88% |
12.44% |
- |
|
NPL (%) |
0.76% |
0.60% |
- |
|
Cost of fund (%) |
6.95% |
9.27% |
- |
|
EPS (Rs.) |
23.93 |
17.69 |
- |
|
Net worth per share (Rs.) |
138.20 |
144.00 |
- |
|
Qtr end PE ratio (Times) |
11.62 |
- |
- |
|
Qtr End Market Price |
278 |
- |
- |
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