Provisions pull down Paschimanchal Finance’s profit
Wed, Aug 21, 2013 12:00 AM on Others,
ShareSansar, Aug 21:
Paschimanchal Finance Company Limited posted a profit of Rs 4.36 crore for the FY 2069/70, a drop of 1.80% over last year’s 4.44 crore.
The finance company has set aside a huge amount as provision for bad loans. The provision amount swelled 1945.73% to Rs 93.49 lakh from Rs 4.57 lakh set aside in the fiscal year 2068/69.
The finance company’s deposits increased 29.99% to Rs 2.12 arba and loans and advances grew 43.13% to Rs 1.90 arba.
Paschimanchal Finance’s EPS dropped 17.43% to Rs 18.66 and its net worth slid 8.32% to reach Rs 150.35.
| Paschimanchal Finance Company Limited (Rs. In '000') | |||
| FY 2069/70 | FY 2068/69 | Growth (%) | |
| Net Profit (Rs.) | 43602 | 44400 | -1.80% |
| Operating Profit (Rs.) | 69477 | 67577 | 2.81% |
| Provision (Rs.) | 9349 | 457 | 1945.73% |
| Net Interest Income (Rs.) | 94948 | 87915 | 8.00% |
| Deposits (Rs.) | 2124577 | 1634454 | 29.99% |
| Loans and Advances (Rs.) | 1906690 | 1332144 | 43.13% |
| NPA (%) | 2.26 | 2.97 | -23.91% |
| Cost of Funds (%) | 10.17 | 11 | -7.55% |
| EPS (Rs.) | 18.66 | 22.6 | -17.43% |
| P/E Ratio | 11.58 | 8 | 44.75% |
| Networth (Rs.) | 150.35 | 164 | -8.32% |
| Fiscal Year End Price (Rs.) | 205 | 190 | 7.89% |
