Higher earnings raise IPDC’s stock price

Stocks of IPDC Finance rose 2.08 per cent to Tk 24.50 yesterday thanks to the higher earnings declaration by the company in the first quarter of the current year.

The non-bank financial institution's profit rose 36 per cent year-on-year to Tk 20.49 crore in the January-March period of 2021.

During the period, IPDC's net interest income increased 3.6 per cent to Tk 57 crore while investment income surged more than three times to Tk 23 crore.

However, the company's per share net operating cash flow stood at TK 18.09 in the negative, which was Tk 1.98 in the positive a year earlier.

On March 31, 2021, the NBFI's per share net asset value stood at Tk 16.52, which was Tk 16.34 three months earlier.

It has a paid-up capital of Tk 371 crore, according to Dhaka Stock Exchange (DSE) data. The company provided 12 per cent cash dividend to its shareholders for the year that ended on December 31, 2020.

Sponsors of the A category company hold 48 per cent of its shares, government 21.88 per cent, institutional investors 16.79 per cent and foreign investors 2.35 per cent.

General investors hold the rest 10.94 per cent shares of IPDC, DSE data shows.