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The Financial Express

IPDC net profit drops 5.47pc in Q1

FE Report | Published: May 08, 2020 14:21:34 | Updated: May 12, 2020 00:42:52


IPDC net profit drops 5.47pc in Q1

IPDC Finance's net profit dropped 5.47 per cent year-on-year to Tk 150 million in first quarter for January-March, 2020 as operating expenses increased.

The net profit of the first non-bank financial institution of the country was Tk 158.68 million for January-March, 2019.

The board of directors of the company in a virtual meeting on Wednesday approved the interim financial statements (un-audited) for the January-March, 2020 period.

The company's earnings per share (EPS) also declined by 6.67 per cent year-on-year in January-March, 2020 period.

The country's one of the leading non-bank financial institution's EPS stood at Tk 0.42 for January-March, 2020 which was Tk 0.45 in the same period of the previous year.

The company's total operating expenses stood at Tk 281.55 million in January-March, 2020 as against Tk 223.29 million in the same period last year.

Its total operating income was Tk 643 million in January-March, 2020 as against Tk 561.6 million in the same period of the previous year.

The company's net interest income stood at Tk 551 million in January-March, 2020 which was Tk 519.6 billion in the same period a year ago.

Each share of the company, which was listed on the Dhaka Stock Exchange in 2006, closed at Tk 22.60 on March 25, the last trading day before the lock down started.

Its share traded between Tk 18.70 and Tk 37.10 in the last one year.

The board of directors of the company has recommended 10 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The company's paid-up capital is Tk 3.53 billion and authorised capital is Tk 4.0 billion, while the total number of securities is 353.42 million.

The sponsor-directors own 48.04 per cent stake in company, while the government owns 21.88 per cent, institutional investors own 18.98 per cent, foreign investors 2.88 per cent and the general public 8.22 per cent as on February 29, 2020, the DSE data showed.

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