In the review period, the company earned a net profit of Rs 264.2 million which is 20.67 percent less compared to Rs 333 million of the corresponding period of the previous FY.
In the review period, the company's net interest income increased from Rs 594.3 million to Rs 645.4 million. With the impairment charge of Rs 23.2 million, the operating profit of the finance company has decreased from Rs 474.7 million to Rs 375.1 million.
Although its net profit has decreased, the distributable profit for investors is in a good position after the regulatory adjustment and the current reserve adjustment. The total distributable profit of the company stood at Rs 141.7 million during the period. Based on paid-up capital, the distributable profit per share of the company has been set at Rs 11.98, which indicates the ability to distribute dividends to the shareholders in the form of cash or bonus shares in the future.
The bank has a paid-up capital of Rs 1.18 billion and reserve fund of Rs 1.05 billion. In the review period, deposits from customers increased from Rs 19.99 billion to Rs 22.23 billion while loan extensions increased from Rs 16.85 billion to Rs 18.69 billion. The total assets of the finance company increased from Rs 23.62 billion to Rs 26.18 billion in the same period last year.
