ICFC’s profit rises by 74.95% in Q1, NPA decline to 1.69%

ShareSansar, November 4:

ICFC Finance Limited net profit rose by 74.95 percent in the first quarter of the current fiscal year 2071/72.

According to an unaudited first quarterly report of the finance company, its net profit rose to Rs 1.24 crore, up from Rs 70.98 lakh in the corresponding quarter last fiscal year.

The company has been able to mobilize Rs 4.34 arba in deposits and Rs 3.23 arba in loan and advances compare to Rs 3.84 arba deposits and Rs 3.05 arba loans during the corresponding quarter last fiscal year.

ICFC’s net interest income has surged to Rs 3.44 crore from Rs 2.70 crore in the same period.

Its non-performing loan (NPL) has decreased to 1.69 percent from 2.16 percent in the corresponding quarter, which is a very good sign.

Nonetheless, its EPS stands at Rs 13.27 and its per share net worth is Rs 143.77.

Earlier, ICFC Finance Limited has proposed 14 percent bonus share and 0.74 percent cash dividend for the tax purpose to its shareholders for the last fiscal year 2070/71.

ICFC Finance Limited had posted net profit of Rs.7.29 crore in the last fiscal year 2070/71.