Forward Microfinance Increases Net Profit by 15%

Aug 02, 2019 10:56 AM Merolagani

Forward Microfinance (@FOWAD@) has increased its net profit by 15 percent and EPS by Rs 82.17 in the fourth quarter of the last FY.

In the fourth quarter of the last FY, the company earned Rs 310.4 million in net profit that was Rs 269.7 million in the previous FY.

The company with Rs 377.6 million in paid-up capital has a reserve fund of Rs 880 million. With the amount, it can distribute an attractive dividend to its shareholders. In the last FY, the company distributed 45 percent dividend including 20 percent bonus share.

During the period, the company increased its deposit collection, loan extension and borrowing by nearly 30 percent and net interest income and operating profit by nearly 15 percent.

The company collected deposit of Rs 4.62 billion, borrowed Rs 5 billion and extended loan of Rs 10.06 billion during the period. During the period, the company earned Rs 750 million in interest income.

The company has a non-performing loan of 0.47 percent, net worth per share of Rs 333.03 and P/E ratio of 18.62 times.

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