ICFC Finance earns net profit of Rs 8.19 crore till second quarter; Net worth per shares at Rs 148
Fri, Jan 31, 2020 12:25 PM on Financial Analysis, Latest, Stock Market,
ICFC Finance Limited (ICFC) has published unaudited financial report for the second quarter today. It has stated that net profit has increased by 14.69% to Rs 8.19 crore in the second quarter of fiscal year 2076/77.
Likewise, it extended loans of Rs 8.86 arba with 8.88% growth from last quarter. It has increased deposits by 6.07% to Rs 11.59 arba in the Q2.
ICFC’s net interest income has increased from Rs 18.11 crore in the corresponding quarter last year to Rs 22.21 crore in the second quarter of fiscal year 2076/77. Its operating profit has increased to Rs 11.29 crore in Q2, from Rs 9.43 crore in corresponding quarter.
It has paid up capital of Rs 88.21 crore with reserve and surplus of Rs 32.77 crore till the Q2. The finance companies’ non-performing loan (NPL) stands at 0.60%.
The Net worth per share stands at Rs 148 and annualized EPS stands at Rs 18.58.
ICFC Finance Limited is soon issuing a total of 2 Lakh units of debentures at par value of Rs.100 per unit. The total value of the issue is Rs.20 Crore and will provide 12% interest. The debentures will mature in 7 years i.e. 2083.
Major highlights:
| Particulars ('000) | ICFC Finance | ||
|---|---|---|---|
| Q2 2076/77 | Q1 2076/77 | Difference | |
| Paid-up capital | 882,172 | 882,172 | |
| Reserves and surplus | 327,754 | 272,990 | 20.06% |
| Retained Earnings | 92,368 | 125,080 | -26.15% |
| Deposits from customers | 11,596,359 | 10,932,872 | 6.07% |
| Loans and advances to customers | 8,868,759 | 8,145,519 | 8.88% |
| Q2 2076/77 | Q2 2075/76 | Difference | |
| Net interest Income | 222,125 | 181,123 | 22.64% |
| Impairmenrt Charge/ (Reversal) | 29,449 | 12,282 | 139.77% |
| Personnel expenses | 68,739 | 71,058 | -3.26% |
| Operating profit | 112,978 | 94,300 | 19.81% |
| Profit/(loss) for the year | 81,971 | 71,471 | 14.69% |
| Total comprehensive income | 81,971 | 71,471 | 14.69% |
| Capital Adequacy Ratio (CAR) | 12.44 | 12.30 | 1.14% |
| NPL | 0.60 | 0.32 | 87.50% |
| Cost of fund | 9.27 | 8.86 | 4.63% |
| Base rate | 10.72 | 11.68 | -8.22% |
| Annualized EPS (Rs) | 18.58 | ||
| Net worth per share (Rs) | 148.00 | ||
| PE ratio | 8.61 | ||
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