Progressive Finance reports net profit of Rs 2.45 crore in Q2; EPS stands at Rs 7.59 finally coming out of the loss zone
Sun, Jan 27, 2019 10:46 AM on Financial Analysis, Latest, Stock Market,
Progressive Finance Limited (PROFL) has registered a net profit of 2.45 crore in the second quarter of the FY 2075/76.
According to the unaudited financial report published by the finance company, its net profit has increased to Rs. 2.45 crore in second quarter, up from loss of Rs.80.3 lakh in the corresponding quarter of the previous fiscal year.
PROFL’s net interest income has increase to Rs.2.06 crore in Q2 as compared to Rs.1.45 crore in the corresponding quarter of the last fiscal year.
As of Q2, it has a paid up capital of Rs.64.58 crore with a reserve of Rs 3.78 crore.
The bank also collected deposits of Rs 75.29 crore in Q2, up from Rs 50.85 crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 77.21 crore in Q2 whereas in the same period last year, the figure stood at Rs. 48.62 crore.
Progressive Finance’s EPS stands at Rs 7.59 with net worth per share standing at Rs 105.85.
Major Highlights:
| Particulars (In Rs '000) | PROFL | ||
|---|---|---|---|
| Q2 2075/76 | Q2 2074/75 | Difference | |
| Paid Up Capital | 645,810 | 210,000 | 207.53% |
| Reserve & Surplus | 37,763 | 4335.52 | 771.01% |
| Deposits | 752,948 | 508,539 | 48.06% |
| Borrowings | - | 44500 | |
| Loans & Advances | 772,096 | 486,249 | 58.79% |
| Net Interest Income | 20,570 | 14,542 | 41.45% |
| Provision for possible losses | 7,210 | 16,882 | -57.29% |
| Operating Profit | 4,111 | -8,257 | 149.79% |
| Net Profit | 24,506 | -8,030 | 405.18% |
| NPL (%) | 1.53 | 3.78 | -59.52% |
| Annualized EPS (In Rs.) | 7.59 | -7.65 | 199.22% |
| Net Worth per Share (In Rs.) | 105.85 | 102.06 | 3.71% |
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