As per the report, the net profit and EPS of the company decreased in the review period compared to the corresponding period of the previous FY.
The company earned a net profit of Rs 57.8 million in the review period compared to Rs 212.6 million of the corresponding period of the previous FY. The net profit declined by 72.77 percent during the period.
Decline in net interest income and increase in impairment charges can be attributed to the decrease in the net profit.
In the review period, its net interest income decreased by 31.12 percent, total operating income by 24.58 percent and operating profit by 72.10 percent. The company registered distributable profit of Rs 49.8 million.
Meanwhile, its NPL increased to5.05 percent from 4.74 percent which raised its impairment charges to 19.1 million.
Along with its net profit, its EPS declined by Rs 27.53 to Rs 7.91. The company has net worth per share of Rs 175.35 and P/E ratio of 86.98 times.
The company with Rs 732 million in paid-up capital has reserve fund of Rs 551.5 million. The company extended loans of Rs 10.05 billion by collecting and borrowing deposits of Rs 8.32 billion.
