OLP Financial Services Pakistan Limited (OLPL): FY24 Corporate Briefing Takeaways – By Taurus Research
Nov 20 2024
Taurus Securities
- OLP is a market leader in the Non-Banking Financial Institution (NBFI) sector. With a robust network of 34 branches across 32 cities and a strong focus on the SME sector, OLP has disbursed PKR 259Bn over the past 38 years, contributing significantly to Pakistan’s economic development. The company boasts a long-term credit rating of AA+.
- OLP achieved a revenue increase of 17%YoY, reaching PKR 7.98Bn in FY24 compared to PKR 6.79Bn in FY23. Profit after tax rose to PKR 1.39Bn, marking a 15%YoY increase, supported by portfolio diversification and efficient cost management. EPS grew to PKR 7.94 from PKR 6.90 in FY23, reflecting consistent earnings growth and operational efficiency.
- OLP reported quarterly revenue of PKR 1.89Bn in 1QFY25, slightly down from PKR 1.98Bn in Q1FY24 due to challenging macroeconomic conditions. Profit after tax declined to PKR 324Mn from PKR 378Mn, with EPS decreasing to PKR 1.85 from PKR 2.16. The decline was mainly due to lower interest rate and a cautious lending approach in specific sectors.
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