Despite decline in net interest income of ICFC finance in Q3, what led to increase in its net profit?
Mon, Apr 26, 2021 5:39 AM on Latest,
ICFC Finance Limited (ICFC) reported a Net Profit of Rs. 17.79 crores. This is an increase of 65.74% compared to the corresponding quarter of the previous year.
It reported net interest income (core business revenue) of Rs. 22.93 crores in Q3. This is a decrease of 29.89% compared to the corresponding quarter of the previous year. However, the company reported Rs. 18.32 crores of other operating income which boosted the net profit in Q3.
The bank has collected deposits from customers of Rs. 14.33 Arba while it has mobilized loans and advances of Rs. 10.22 Arba till Q3 of FY 2077/2078.
ICFC Finance has a paid-up capital of Rs. 1.02 Arba and reported Rs. 44.66 crores reserve and surplus in this quarter.
The Earnings per Share (annualized) stood at Rs. 23.16 and net worth per share stands at Rs. 143.61. The Company traded at a P/E multiple of 14.50 times.
Major Highlights:
* Figure is of Immediate Previous Year Ending
| Particulars (In Rs '000") | ICFC Finance | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Share Capital* | 1,024,266 | 926,502 | 10.55% |
| Share Premium* | 0 | 0 | |
| Retained Earnings* | 103,034 | 140,119 | -26.47% |
| Reserves* | 343,648 | 267,587 | 28.42% |
| Deposits from Customers* | 14,331,756 | 12,638,486 | 13.40% |
| Loans & Advances to customers* | 10,227,951 | 8,966,484 | 14.07% |
| Net Interest Income | 229,393 | 327,184 | -29.89% |
| Other Operating Income | 183,295 | 11,886 | 1442.13% |
| Impairment Charge/(Reversal) | 29,931 | 56,699 | 0.00% |
| Personnel Expenses | 122,147 | 103,134 | 18.44% |
| Operating Profit | 253,847 | 152,996 | 65.92% |
| Profit/(Loss) for the Year | 177,951 | 107,370 | 65.74% |
| Total Comprehensive Income | 239,069 | 107,370 | 122.66% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 103,034 | ||
| Capital Adequacy Ratio (CAR) | 13.38 | 12.44 | 7.56% |
| NPL | 0.51 | 0.6 | -15.00% |
| CCD (as per NRB Directives) | 70.4 | 74.41 | -5.39% |
| Cost of Fund (%) | 6.6 | 9.27 | -28.80% |
| Interest Rate Spread (%) | 4.16 | 4.76 | -12.61% |
| Base Rate (%) | 8.42 | 10.72 | -21.46% |
| Annualized EPS (In Rs.) | 23.16 | 15.45 | 49.92% |
| Net Worth per Share (In Rs.) | 143.61 | 144.00 | -0.27% |
| Qtr End PE Ratio (times) | 14.50 | - | - |
| Qtr End Market Price | 336 | - | - |
