Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) has unveiled its third-quarter report for the fiscal year 2080/2081, showcasing a remarkable surge of 167.16% in Net Profit. The company’s net profit surged to Rs. 11.65 crore compared to Rs. 4.36 crore in the corresponding quarter of the previous year.
In terms of financial metrics, FOWAD witnessed a 3.76% increase in deposits, reaching Rs. 8.67 Arba. Concurrently, loans and advances experienced a 1.42% rise, totaling 19.823 Arba in this quarter.
Core revenue, represented by net interest income, saw a notable 6.16% increase, amounting to Rs. 87.82 Crores compared to Rs. 82.72 Arba in the corresponding quarter of the previous year.
However, there was a notable spike in the company’s Non-Performing Loan (NPL) ratio, which increased to 8.26% from 5.88%. Meanwhile, the distributable profit stood at Rs. 33.87 Crores.
FOWAD reported an annualized earnings per share (EPS) of Rs. 14.72 for the third quarter of FY 2080/81, with a net worth per share of Rs. 269.34. Remarkably, the company traded at a P/E multiple of 76 times.
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