Forward Community Microfinance published a strong Q2 financials with 29.56% rise in net profit; EPS stands at Rs 80.33
Wed, Feb 5, 2020 8:19 AM on Financial Analysis,
Forward Community Microfinance Bittiya Sanstha Limited (FOWAD) has published an unaudited financial report for the second quarter of FY 2076/77 today. It has stated that its net profit has increased by 29.56% to Rs 20.09 crore in second quarter of fiscal year 2076/77 from Rs 15.51 crore reported in the corresponding quarter of the previous fiscal year 2075/76.
Likewise, it extended loans of Rs 10.84 arba till Q2 with 25% growth. It has collected deposits of Rs 5.18 arba and borrowed Rs 5.74 arba till the second quarter. It has paid up capital of Rs 50.04 crore with reserve and surplus of Rs 87.28 crore.
Its net interest income has also increased by 18.45% to Rs 44.83 crore from Rs 37.84 crore in the corresponding quarter. Its operating profit has increased to Rs 31.57 crore in Q2, from Rs 24.37 crore in corresponding quarter.
The company annualized earnings per Share (EPS) stand at Rs 80.33 and non-performing loan (NPL) has slightly increased to 0.77% from 0.66%. The Net worth per share stands at Rs 274.42 and quarter end PE is 15.04 times as per the second quarter report.
Forward Microfinance announces 32.5% bonus shares and 12.5% cash dividend for FY 75/76 which was already endorsed by its AGM and adjusted in Q2 report.
Major Highlights:
|
Particulars (In Rs '000) |
Forward Community Microfinance |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Paid Up Capital |
500,415.40 |
300,165.70 |
66.71% |
|
Reserve & Surplus |
872,801.36 |
882,356.11 |
-1.08% |
|
Deposits |
5,180,797.28 |
3,616,754.82 |
43.24% |
|
Borrowings |
5,743,955.10 |
4,310,941.32 |
33.24% |
|
Loans & Advances |
10,846,039.80 |
8,676,953.70 |
25.00% |
|
Net Interest Income |
448,302.97 |
378,473.39 |
18.45% |
|
Staff Expenses |
158,801.84 |
131,891.43 |
20.40% |
|
Provision for possible losses |
59,372.89 |
34,072.24 |
- |
|
Operating Profit |
315,747.35 |
243,777.25 |
29.52% |
|
Net Profit |
200,992.03 |
155,130.98 |
29.56% |
|
Capital Adequacy (%) |
12.58 |
13.04 |
-3.53% |
|
NPL (%) |
0.77 |
0.66 |
16.67% |
|
Cost of Fund (%) |
10.06 |
9.61 |
4.68% |
|
Annualized EPS (In Rs.) |
80.33 |
103.36 |
-22.28% |
|
Net Worth per Share (In Rs.) |
274.42 |
393.96 |
-30.34% |
|
PE Ratio (times) |
15.04 |
- |
- |
|
Qtr End Price |
1208 |
- |
- |
|
PB Ratio (times) |
4.4 |
- |
- |
