IDLC Finance’s profit down 21% in 2023

IDLC Finance PLC's profit dipped 21 percent year-on-year to Tk 151.31 crore in 2023. 

The non-banking financial institution (NBFI) recorded a profit of Tk 191.63 crore in the previous year. 

As a result, the consolidated earnings per share was Tk 3.64 last year, down from Tk 4.61 in 2022, according to a filing on the Dhaka Stock Exchange (DSE). 

However, the NBFI's consolidated net asset value per share increased to Tk 45.71 from Tk 43.56. 

The board of directors has recommended a 15 percent cash dividend, the same as the previous year. The annual general meeting will take place on April 29. 

IDLC started its journey in 1985 and has emerged as one of the country's largest NBFIs. It has a presence in 20 districts with 40 branches and booths with over 1,700 employees, according to its website. 

The company's shares started trading at Tk 38.2 on the DSE today but declined 2.09 percent to Tk 37.4 as of 1:18 pm.