Asia Asset Finance PLC (AAF)was the second company to release the June quarter report. As per the report filed, Net Interest Income has dropped 2% on a QoQ basis while earnings improved by 42% helped by increase in “other” income and lower costs and impairment charge.
The company though, has stated the EPS as 0.06/- per share but when calculated it is only 0.04/- per share. Book value increased to 1.57/- per share from 1.53/- as a result while the company trades at 1.1x Book Value.
During the quarter, AAF has managed to increase both its deposit base and loan book while also having a considerable amount of cash and cash equivalents.
Muthoot Finance Limited holds 51% of the company.
