Despite Growth In Core Business Revenue For ICFC What Led To Decline In Net Profit In Q2?

Mon, Jan 24, 2022 8:22 AM on Company Analysis, Latest,

ICFC Finance Limited (ICFC) reported a Net Profit of Rs. 9.65 crores in Q2 of FY 2078/2079. This is a decline of 24.41% compared to the corresponding quarter of the previous year.

It reported a net interest income (core business revenue) of Rs. 20.90 crores in Q2. This is an increment of 32.66% compared to the corresponding quarter of the previous year.

As per the quarterly report, the ICFC reported lower other operating income compared to the corresponding quarter of previous years which led to a decline in operating income.

The bank has collected deposits of Rs. 15.45 Arba while it has mobilized loans and advances of Rs. 12.86 Arba till Q2 of FY 2078/2079.

ICFC Finance has a paid-up capital of Rs. 1.12 Arba and reported Rs. 53 crores reserve in this quarter.

The Earnings per Share (annualized) stood at Rs. 16.44 and net worth per share stands at Rs. 147.03. The Company traded at a P/E multiple of 47.14 times.

Click here for the Q2 report

Major Highlights:

Particulars

ICFC Finance Limited

Q2, 2078/2079

Q2, 2077/2078

Difference

Paid-Up Capital

1,127,115.20

1,024,265.80

10.04%

Reserve & Surplus

530,086.71

605,860.07

-12.51%

Deposit from Customers

15,454,838

14,342,811

7.75%

Loans & Advances

12,869,484

10,371,512

24.08%

Net Interest Income

209,043.14

157,579.51

32.66%

Impairment Charge/(Reversal) for loans

31,365.79

37,213.27

-

Operating Profit

132,239

174,732.90

-24.32%

Net Profit

92,654.73

122,570.42

-24.41%

Capital Adequacy (%)

12.37%

13.88%

-

NPL (%)

1.06%

0.76%

-

Cost of fund (%)

7.93%

6.95%

-

EPS (Rs.)

16.44

23.93

-

Net worth per share (Rs.)

147.03

159.15

-

Qtr end PE ratio (Times)

47.14

-

-

Qtr End Market Price

775

-

-