Progressive Finance Limited (PROFL) has registered a net profit drop of 69.39%, inspite of the growth in operating profit by 540.54% in the second quarter of the current FY 2073/74. Its provision for possible loss has also increased by 140%.
According to the unaudited financial report published by the finance company, its net profit has decreased to Rs. 78.13 lakh in second quarter, down from Rs. 2.55 crore in the corresponding quarter of the previous fiscal year.
PROFL’s net interest income has risen to Rs.1.24 crore in Q2 as compared to Rs.78.94 lakh in the corresponding quarter of the last fiscal year.
As of Q2, it has a paid up capital of Rs.21 crore with a reserve of Rs 84.28 lakhs.
The bank also collected deposits of Rs 53.26 crore in Q2, up from Rs 38.30 crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 57.87 crore in Q2 whereas in the same period last year, the figure stood at Rs. 30.34 crore.
Progressive’s annualized Earnings per Share (EPS) has decreased by 70.82% to Rs 7.44 per share. It had distributed 25% stock dividend for the year 2072/73. Its net worth per share stands at just Rs 104, with P/E ratio at 11.22 times.
| Indicators (Rs in "000") |
FY 2073/74 Q2 |
FY 2072/73 Q2 |
Difference (%) |
| Paid Up Capital |
210,000.00 |
200,160.00 |
4.92% |
| Reserve and Surplus |
8,428.23 |
190.40 |
4326.59% |
| Deposits |
532,685.95 |
383,050.56 |
39.06% |
| Loans and Advances |
578,789.43 |
303,478.94 |
90.72% |
| Net Interest Income |
12,446.96 |
7,894.05 |
57.68% |
| Provision |
6,343.60 |
2,640.29 |
140.26% |
| Write Back |
|
2,011.48 |
- |
| Operating Profit |
3,411.95 |
532.67 |
540.54% |
| Net Profit |
7,813.30 |
25,525.70 |
-69.39% |
| Capital Adequacy Ratio |
35.05% |
50.44% |
- |
| NPL |
1.51% |
1.32% |
14.39% |
| Cost of Fund |
8.12% |
7.16% |
|
| CD Ratio (as per NRB) |
76.51% |
52.01% |
- |
| EPS (Annualized) |
7.44 |
25.51 |
-70.82% |
| PE Ratio |
11.22 |
|
|
| Networth Per Share |
104.01 |
|
|
