ICFC Finance's Net Profit Declined By 20.67% in Q4; EPS Jumps to Rs.22.23

ICFC Finance Limited (ICFC) has published its fourth-quarter report of FY 2082/83, with a decline in net profit by 20.67%. As per the report, net profit decreased to Rs. 26.42 crore from Rs. 33.30 crore in the corresponding quarter of the previous year. The company’s paid-up capital stood at Rs. 1.18 arba, while reserves and surplus stood at Rs. 91.53 crores, up by 18.44% compared to the previous fiscal year. However, retained earnings declined by 35.18%, amounting to Rs. 14.17 crores compared to 21.86 crores in the previous year. Similarly, loans and advances increased by 10.89% to Rs. 18.69 arba, while deposits also increased by 11.22%, totaling Rs. 22.23 arba. Also, net interest income saw a moderate gain by 8.59% and totaled Rs. 64.54 crores. The company recorded an impairment charges of Rs. 2.32 crore compared to a reversal of Rs. 5.65 crores in the same period last year. The company’s Capital Adequacy Ratio (CAR) improved to 14.38%, up from 14.05%. The cost of funds also improved significantly, declining by 29.78% to 4.22%. The company’s  Earnings Per Share (EPS) for the period stood at Rs. 22.23. The net worth per share remained steady at Rs. 189.32. The company’s Price-to-Earnings (P/E) ratio at the end of the quarter was 26.38 times, based on a market price of Rs. 589 per share. Report: Major Highlights:

Particulars (In Rs '000) ICFC Finance Limited

Q4 2082/83 Q4 2081/82 Difference

Paid Up Capital 1,183,470.96 1,183,470.96 0.00%

Retained Earnings 141,732.43 218,670.20 -35.18%

Reserves 915,375.26 772,866.66 18.44%

Deposits 22,232,744.96 19,990,292.73 11.22%

Loans & Advances to Customers 18,695,686.95 16,859,157.29 10.89%

Net Interest Income 645,421.02 594,363.03 8.59%

Personnel Expenses 285,906.23 262,871.08 8.76%

Impairment Charges 23,201.60 -56,592.21 -141.00%

Operating Profit 375,115.50 474,792.87 -20.99%

Net Profit 264,224.94 333,079.98 -20.67%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  142,732.43    

Capital Adequacy (%) 14.38 14.05 2.35%

NPL (%) 1.55 1.84  

Cost of Fund (%) 4.22 6.01 -29.78%

EPS (In Rs.) 22.33 28.14 -20.67%

Net Worth per Share (In Rs.) 189.32 183.78 3.01%

Qtr end PE Ratio (times) 26.38    

Qtr End Market Price 589