IPDC Finance’s Q3 profit rises 18pc

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IPDC Finance’s Q3 profit rises 18pc
IPDC Finance’s Q3 profit rises 18pc

IPDC Finance’s Q3 profit rises 18pc

IPDC Finance Limited witnessed higher profits year-on-year in the July-September period (third quarter) of the current year despite generating a lower net interest income.

The profits of the non-bank financial institution were augmented by higher investment income and commission.

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It logged net profits of Tk 22 crore in the quarter, up 18 per cent from Tk 18.61 crore in the same period of the previous year.

Investment income rose 16 per cent to Tk 10.1 crore in the period. However, net interest income dropped 6 per cent to Tk 50.2 crore.

In the quarter, its return on assets, return on equity and spread (difference between deposit and lending rate) stood at 1.11 per cent, 14.70 per cent and 2.49 per cent respectively.

Its stocks edged down 2.11 per cent to Tk 41.70 yesterday.

In the nine-month (January to September) period, the NBFI’s net profit after tax was Tk 63 crore, up from Tk 50.2 crore in the same period of the previous year. Meanwhile its earnings per share were Tk 1.70 and Tk 1.35 respectively.

The company’s data was published yesterday after a board meeting.

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