Outstanding rise in core business revenue leads to 66.14% rise in net profit of Forward Microfinance in Q3; EPS stands at Rs 77.07
Wed, Apr 28, 2021 4:52 AM on Financial Analysis, Latest,
Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) published the third-quarter report of FY 2077/2078 with an outstanding 66.14% increment in Net Profit. As per the report published by the company, the net profit increased to Rs. 36.15 crores as compared to Rs. 21.76 crores in the corresponding quarter of the previous year.
The borrowings of the company increased by 39.44% to Rs. 8.75 Arba which was Rs. 6.27 Arba in the corresponding quarter of the previous year. At the same time, deposits increased by 18.71% to Rs 6.44 arba.
The company’s loans and advances have also increased by 29.70% to 15.33 Arba in this quarter.
The net interest income (core revenue) has increased by 51.77% to Rs. 85.31 crores compared to Rs. 56.21 crores in the corresponding quarter of the previous year.
The paid-up capital of the company stood at Rs. 62.55 crores in this quarter and its reserve and surplus stood at Rs. 1.05 Arba which is an increment of 18.29% in this quarter.
Its annualized earnings per share (EPS) stands at Rs. 77.07. The net worth per share is Rs. 268.45. The company traded at a P/E multiple of 38.67 times.
Major Highlights:
| Particulars (In Rs '000) | Forward Microfinance | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Paid Up Capital | 625,519.00 | 500,415.00 | 25.00% |
| Reserve & Surplus | 1,053,699.00 | 890,788.00 | 18.29% |
| Borrowings | 8,751,623.00 | 6,276,289.00 | 39.44% |
| Deposits | 6,449,256.00 | 5,432,941.00 | 18.71% |
| Loans & Advances | 15,331,637.00 | 11,820,501.00 | 29.70% |
| Net Interest Income | 853,148.00 | 562,138.00 | 51.77% |
| Staff Expenses | 238,723.00 | 234,175.00 | 1.94% |
| Provision for possible losses | 283,760.00 | 122,433.00 | - |
| Operating Profit | 568,156.00 | 341,867.00 | 66.19% |
| Net Profit | 361,554.00 | 217,614.00 | 66.14% |
| Capital Adequacy (%) | 10.76 | 11.61 | -7.32% |
| NPL (%) | 2.79 | 1.06 | - |
| Cost of Fund (%) | 8.08 | 9.65 | -16.27% |
| EPS (In Rs.) | 77.07 | 57.98 | 32.92% |
| Net Worth per Share (In Rs.) | 268.45 | 278.01 | -3.44% |
| Qtr end PE Ratio (times) | 38.67 | - | - |
| Qtr End Market Price | 2980 | - | - |
