Forward Microfinance's Q3 Report: Net Profit Surges By 167.16% to Rs. 11.65 Crore, NPL Spikes, EPS at Rs. 14.72
Fri, Apr 26, 2024 7:28 AM on Financial Analysis, Company Analysis, Latest,
Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) has released its third-quarter report for the fiscal year 2080/2081, showcasing a remarkable surge of 167.16% in Net Profit. The company's net profit surged to Rs. 11.65 crore compared to Rs. 4.36 crore in the corresponding quarter of the previous year.
In terms of financial metrics, the company witnessed a 3.76% increase in deposits, reaching Rs. 8.67 Arba. Concurrently, loans and advances experienced a 1.42% rise, totaling 19.823 Arba in this quarter.
Core revenue, represented by net interest income, saw a notable 6.16% increase, amounting to Rs. 87.82 Crores compared to Rs. 82.72 Arba in the corresponding quarter of the previous year.
The company's paid-up capital stood at Rs. 1.05 Arba, with retained earnings of Rs. 33.87 crores and reserves amounting to Rs. 1.44.
However, there was a notable spike in the company's Non-Performing Loan (NPL) ratio, which increased to 8.26% from 5.88%. Meanwhile, the distributable profit stood at Rs. 33.87 Crores.
Forward Microfinance Laghubitta Bittiya Sanstha Limited reported an annualized earnings per share (EPS) of Rs. 14.72 for the third quarter of FY 2080/81, with a net worth per share of Rs. 269.34. Remarkably, the company traded at a P/E multiple of 76 times.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Forward Microfinance | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 1,055,563.73 | 1,055,563.73* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | 338,707.26 | 678,814.33* | -50.10% |
| Reserves | 1,448,796.40 | 995,140.14* | 45.59% |
| Deposits | 8,767,639.04 | 8,450,120.17* | 3.76% |
| Loans & Advances | 19,823,596.36 | 19,545,986.37* | 1.42% |
| Net Interest Income | 878,213.24 | 827,245.95 | 6.16% |
| Personnel Expenses | 341,442.43 | 358,772.06 | -4.83% |
| Impairment Charges/Reversal for loans and Advances | 421,513.79 | 485,578.38 | -13.19% |
| Operating Profit | 175,704.34 | 62,745.51 | 180.03% |
| Net Profit | 116,563.14 | 43,630.81 | 167.16% |
| Distributable Profit | 338,707.25 | 678,814.33 | -50.10% |
| Capital Adequacy (%) | 10.48 | 13.10 | -20.00% |
| NPL (%) | 8.26 | 5.88 | 40.48% |
| Cost of Fund (%) | 9.70 | 10.44 | -7.09% |
| EPS (In Rs.) | 14.72 | 5.51 | 167.16% |
| Net Worth per Share (In Rs.) | 269.34 | 258.58 | 4.16% |
| Qtr end PE Ratio (times) | 76.00 | - | - |
| Qtr End Market Price | 1119 | - | - |
