Photo: Collected
IDLC Finance PLC, a listed company, has seen a sharp drop in its profit. This figure emerged in the audited financial report for the year ending January to December 2023 compared to the previous year (2022).
This information has been published on the Dhaka Stock Exchange (DSE) website on March 13.
According to DSE data, the after-tax income of financial sector companies in 2023 was Tk 151,31,42,485. Which was more than Tk 191.45 crore in the previous year i.e. 2022. That is, compared to 2022, the company's profit has decreased by more than Tk. 40 crore in 2023.
Earnings per share (EPS) of the company fell by 21 percent to TK 3.64 last year as profit falls. The previous year in 2022 the earnings per share (EPS) was Tk 4.61.
The previous year in 2021 the profit after tax was Tk 211.60 crore. Profit in 2020 was Tk.254.05 crore. That is, the company made the lowest profit last year after 2019. In 2019, the profit was Tk 169.99 crore.
Despite the decline in profits, the company's board of directors has decided to pay 15 percent cash dividend to the company's 41,56,98,485 shareholders in 2023. The previous two years also paid dividends at the same rate. That means 15 percent cash dividend.
The company's shares, listed in 1992, last traded at Tk 37.50 on March 13. 415.69 crore paid-up capital of the company, the entrepreneur-directors hold 56.66 percent, institutional investors hold 27.93 shares, foreign investors hold 1.16 percent and general investors hold 14.25 percent. The company has long term debt of Tk 41.02 crore.
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