IPDC Finance Limited, a leading non-bank financial institution in the country, has posted a 37% profit growth in the first quarter of 2021.
According to the company's Q1 financial statements, its net profit stood at Tk20.49 crore, which was Tk15 crore for the same period the previous year.
This year, Q1 earnings per share (EPS) of the company was Tk0.55, which was Tk0.40 for the same period in 2020.
The operating income of the company increased 35% to Tk87.11 crore from Tk64.33 crore the previous year.
The provision for loans and advances of IPDC Finance increased to Tk19.57 crore during the first quarter of 2021, from Tk8.14 crore for the same period in 2020.
Total provisioning stood at Tk21.81 crore, which was Tk8.13 crore in the same time the previous year.
In the first quarter of 2020, the company's net profit rose by 25% to Tk70.55 crore compared to the same time in 2019.
IPDC Finance has announced a 12% cash dividend for shareholders, which was 15% (10% cash and 5% bonus) in the previous year.
The company was listed on the Dhaka Stock Exchange in 2006. Its paid-up capital is Tk371.09 crore.
Sponsors and directors of the company hold 48.04% shares, government 21.88%, institutional investors 16.26%, foreign investors 2.80%, and general investors 11.02%.