More than 40% decrease in net interest income reported by Hathway Finance Company; net profit stands at Rs.1.98 Crore
Fri, Apr 26, 2019 12:22 PM on Financial Analysis, Latest, Stock Market,
Hathway Finance Company Limited (HATH) has reported a growth in net profit at Rs.1.98 Crore along with increased EPS at Rs.8.86 for the third quarter of the current fiscal year 2075/76.
Unaudited financial report of Hathway Finance circulated today; has stated that net profit has increased to Rs.1.98 Crore from Rs.1.77 Crore reported in the corresponding quarter of the previous fiscal year 2074/75.
It has extended loans of Rs.37.74 Crore from Rs.22.81 Crore in the corresponding quarter. Its deposits collection has increased to Rs.33.82 Crore in the third quarter of the fiscal year 2075/76. It has paid up capital of Rs.30 Crore with diminished reserve at Rs.7.57 Crore in Q3.
Net Interest income is the primary source of income for finance company. HATH’s net interest income has fallen from Rs.3.16 Crore in the corresponding quarter last year to Rs.1.85 Crore in the third quarter of fiscal year 2075/76, decreasing by 41.45%.
The finance company’s non-performing loan (NPL) has reduced to 2.26 percent in the third quarter. Currently, Net worth per share stands at Rs.74.74 and P/E ratio at 12.91 times.
The finance company is in acquisition process by Global IME Bank Limited.
