Best Finance has published fourth quarter report, net profit of the company stands at Rs. 4.42 crore. There is massive increment in net profit from the loss of Rs. 52.81 lakh in the corresponding quarter of last FY 20743/75.
It has collected deposit of Rs.21 crore & expanded in loan in advance of Rs.28.03 crore. Deposit collection increased by 109.51% & loan expansion increased by 40.14%.
Its net interest income increased to Rs.2.34 crore from Rs.1.95 crore in the last corresponding quarter. Operating profit is Rs.30.73 lakh.
The finance company is able to write back of provision of possible losses of Rs.4.89 arba which leads to increased in net profit.
Its paid up capital is Rs.29.75 crore with negative reserves fund of Rs.7.58 crore.
Its non performing loan stands at 49.29 percent from 84.93 percent from the last year.
Annualized earning per share is Rs.14.87 & net worth per share is Rs.74.49. PE ratio stands at 8.27 times.
For few years we can’t expect any dividend from best finance because its reserves fund is negative balance. After the join transaction with Synergy finance, the company may improve its overall performance.
