Three NBFIs declare earnings for Q2

Three listed Non-banking Financial Institutions (NBFIs) declared earnings for the second quarter and half yearly for this year.

The Companies are -- Union Capital, Phoenix Finance and Investments and Prime Finance and Investment.

All companies performed better in the second quarter and half yearly, except the Union Capital, which earnings still in negative.

The three companies posted the corporate declaration in Dhaka Stock Exchange’s website on Wednesday.

For April-June, Union Capital’s earnings was negative, which means the company made Tk 0.26 loss for each share. The company reported Tk 1.27 loss for the same period of the previous year. In this context the company’s earnings improved.

For the first half of this year, Union Capital’s earnings also improved, compare to the same period of previous year but still in negative.

The company informed DSE that EPS as on 30 June, 2021 has increased from 30 June, 2020 due to decrease of interest expense on deposits and borrowings, salaries expenses and other employee benefits and increase of investment income and other operating income.

Union capital’s net operating cash flow per share (NOCFPS) increased. However, declined the net asset value (NAV).

Its consolidated NOCFPS was Tk 0.23 for January-June 2021 as against negative Tk 2.04 for January-June 2020 and consolidated NAV per share was Tk 3.28 as on June 30, 2021 and Tk 4.12 as on December 31, 2020.

According to the company, NAV as on 30 June, 2021 has decreased from 31 December, 2020 due to incurring consolidated loss of Tk 14.55 crore which has resulted in the decrease of the net assets value by the same amount.

The share price of the company increased 0.78 per cent to Tk 12.90 on Wednesday.

On the other hand, Phoenix Finance and Investment’s earnings position slightly improved for the second quarter and the half year.

Its EPS was Tk 0.18 for April-June 2021 as against Tk 0.16 for April-June 2020 while EPS was Tk 0.63 for January-June 2021 as against Tk 0.52 for January-June 2020.

But the NOCFPS was declined, which was Tk 0.29 for January-June 2021 as against Tk 0.47 for January-June 2020 and NAV per share was increased, which was Tk 22.64 as on June 30, 2021 and Tk 22.01 as on December 31, 2020.

The share price of the company on Wednesday declined 2.72 per cent to Tk 32.20.

Prime Finance and Investment also disclosed the Q2 financials. The company informed that; the board of directors has recommended no dividend for the year ended on December 31, 2020.

The company fixed the Annual General Meeting on October 28 and the record date is September 30.

Due to the no dividend declaration, the share price of the company declined 6.17 per cent to TK 15.20 on Wednesday.

Prime Finance has also reported consolidated EPS of Tk 0.14, NAV per share of Tk 11.76 and NOCFPS of Tk0.30 for the year ended on December 31, 2020 as against Tk 0.19, Tk 8.94 and Tk 0.09 respectively for the same period of the previous year.

Second quarter (April-June) of this year, the company’s earnings was in positive trend, which was negative for last year. The consolidated EPS was Tk 0.04 as against negative Tk 0.05 for same period of the last year.

On the other hand, the half yearly consolidated EPS of this year was Tk 0.09 as against negative Tk 0.09 for January-June 2020.