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Best Finance Limited (BFC) reported a Net Profit of Rs. 12.11 crores in the first quarter of FY 2078/2079. The company reported positive net earnings in this quarter compared to the corresponding quarter of the previous year.
As per the report, the company wrote back Rs. 12.66 crores which boosted the operating earnings.
Its net interest income decreased to Rs. 2.72 crores till Q1 from Rs. 2.82 Crores in the corresponding quarter previous year.
The bank has collected deposits of Rs. 3.09 Arba while it has mobilized loans and advances of Rs. 2.37 Arba till Q1 of FY 2078/2079.
Best Finance has a paid-up capital of Rs. 82.89 crores and reserve stood at Rs. 47.96 Crores.
The Earnings per Share (annualized) stood at Rs. 58.47 and net worth per share stands at Rs. 125.35. The Company traded at a P/E multiple of 7.34 times.
Major Highlights:
| Particulars | Best Finance Company Limited | ||
|---|---|---|---|
| Q1, 2078/2079 | Q1, 2077/2078 | Difference | |
| Paid-Up Capital | 828,913.79 | 828,913.79 | – |
| Share Premium | 3,025.36 | 3,025.36 | – |
| Retained Earnings | -272,584.70 | -314,524.89 | – |
| Reserves | 479,684.10 | 420,418.50 | 14.10% |
| Deposit from customers | 3,091,620.49 | 2,963,592.09 | 4.32% |
| Loans & Advances to Customers | 2,373,871.72 | 1,788,217.24 | 32.75% |
| Net Interest Income | 27,259.10 | 28,268.00 | -3.57% |
| Impairment Charge/ (Reversal) | -126,698.33 | 5,529.00 | – |
| Operating Profit | 138,167.69 | -6,000.00 | – |
| Profit/ (Loss) for the period | 121,160.58 | -8,999.00 | – |
| Distributable Profit/(Loss) after P/L appropriation and Regulatory Adjustments | -272,584.70 | – | – |
| Capital Adequacy Ratio (CAR) (%) | 25.14% | 25.50% | – |
| Non-Performing Loan (NPL) | 4.05% | 14.26% | – |
| CCD (as per NRB Directive) | 80.42% | 68.01% | – |
| Cost of Fund (%) | 7.09% | 7.15% | – |
| Base Rate (%) | 10.58% | 11.07% | – |
| Annualized EPS (Rs.) | 58.47 | -4.34 | – |
| Net Worth per share (Rs.) | 125.35 | 113.14 | 10.79% |
| Qtr End PE Ratio (Rs.) | 7.34 | – | – |
| Price to Book (PB Ratio) | 3.42 | – | – |
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