Progressive Finance in Progressive Path

Jan 27, 2019 Merolagani

Progressive Finance (PROFL) has shown improvement in its financial report of the second quarter of the current FY. The company that issued 281 percent right shares in a bid to raise its paid-up capital as per the minimum requirement of NRB has earned a net profit of Rs 24.5 million in the review period.

In the corresponding period of the last FY, the company incurred loss of Rs 8.029 million. As a result, the company was able to maintain EPS of Rs 7.59 that was in loss of Rs 7.65 per share in the review period of the last FY.

During the period, the company recovered bad debt of Rs 26.7 million pulling its bad debt ratio down to 1.53 percent from 3.78 percent.

The company raised its paid-up capital by 207.52 percent to Rs 645.8 million and has reserve fund of Rs 37.7 million.

In the review period, the company earned Rs 20.5 million in net interest income. The company has net worth per share of Rs 105.85 and P/E ratio of 16.21 times.

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