LankaBangla Finance Limited was the most traded stocks at the Dhaka Stock Exchange yesterday.
Its shares valued at Tk22.5 crore were changed hands in the first trading session of the New Year. The value represents 5.5% of the total volume traded at DSE.
The non-banking financial institution stock prices closed at Tk68.4 each, registering a rise of 2.86%.
According to the latest unaudited report (July to September 2013), the company made a net profit after tax of Tk23.6 crore, an increase of 77% from Tk13.3 crore in the same period a year ago.
In first nine months of 2013, its net profit was Tk42.9 crore against Tk37.9 crore in the corresponding period of 2012.
Despite a significant increase in provision, the company came out with higher profit due to Tk20.2 crore income gained from its investing activity in the third quarter in 2013.
Income from investment was only Tk3.5 crore in the third quarter of 2012.
“We have performed very well during the last year in comparison to 2012,” said an official at Lankabangla Finance Limited.
Earlier, the company received positive credit rating from Credit Rating Agency of Bangladesh Limited (CRAB).
The company obtained ratings of “A2” in the long term and “ST-3” in the short term based on audited financial statements as on December 31, 2012.
The stock price of the company is the highest since December that has a net asset value of Tk31.07, earnings per share of Tk2.06 and a price to earnings ratio of 25.23.