Annual Report 2012 of IPDC Finance Limited

It is a broadly described annual report of IPDC Finance Limited in the year of 2012. During the year 2012 IPDC has deposited the total amount of Taka. 60.42 million to the national exchequer as corporate tax, withholding tax, excise duty, and VAT. The most positive attribute of IPDC’s FY2012 financial performance has been the impressive growth in asset and revenue achieved while containing the operational coat through improved operational efficiency. The total operating expenses In FY2012 was Tk. 131.6 million down 1.5 percent from the previous year. As a result, operating profit increased to It 207.5 million as against Tk. 132.1 million achieved in FY2011 resulting in a strong 57.08 percent growth on the year to year basis. Other operating income, mainly constituting loan loss recovery, was Tk. 25.2 million in FY2012 while it had been only Tk. 1.5 million in FY2011. Overall net operating revenue increased to Tk. 339.1 million in FY2012 with impressive growth of 27.6 percent against Tk. 265.7 million of FY2011. In the year 2012, the net profit after tax of the Company stood at BDT 128.60 million which is 15.16% higher than the prior year.

The Board of Directors of the Company in its 131^st meeting held on 27^th February 2013 recommended @10% (ten percent) cash dividend for the year ended 31^st December 2012 which is subject to the approval of the shareholders in the upcoming 31^st Annual General Meeting scheduled to be held on 25^th April 2013. The total amount of recommended cash dividend is Tk. 104,339,235. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.

More Annual Report of IPDC Finance Limited: