May 15, 2025
Dolla Financial Services Limited (DOLLA)
Unaudited financials for the first quarter ended March 31, 2025:
Dolla Financial Services Limited (Dolla) for the first quarter ended March 31, 2025, reported a 38% increase in interest income totalling $502.10 million compared to $364.68 million in the corresponding three months last year.
Interest Expenses amounted to $100.35 million (2024: $61.24 million), an increase of 64% year over year. Consequently, net interest income increased by 32% to $402.36 million compared to $304.25 million for the first quarter ended March 31, 2024.
Net Interest Income after Loan Impairment increased by 17% to close at $352.31 million (2024: $300.29 million), while Fees and Other Income increased by 956% from a loss of $61,000 in 2024 to an income of $522,000 for the three months. As a result, Foreign Exchange Gains for the first quarter amounted to $3,000, a 101% increase relative to the loss of $284,000 reported in 2024.
Total Net Interest Income and Other Revenue for the three months amounted to $352.83 million, an 18% increase from the $299.95 million reported in 2024.
Administrative Expenses totalled $232.14 million, a 57% increase from last year’s corresponding period. (2024: $147.58 million) Profit before Taxation for the first quarter ended March 31, 2025, amounted to $120.69 million, a 21% decrease relative to $152.37 million reported in 2024.
Income Tax for the three months decreased 67% to $4.09 million (2024: $12.37 million). Net Profit for the three months amounted to $116.60 million (2024: $139.99 million). Total Comprehensive Income for the three months amounted to $116.87 million, a 10% decrease from the $130.43 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.05 (2024: EPS: $0.05). The twelve-month trailing EPS was $0.15, and the number of shares used in these calculations was 2,500,000,000. Dolla’s stock price closed the trading period on May 14, 2025, at $2.90 with a corresponding P/E ratio of 18.73x.
Balance Sheet Highlights
The company’s assets totalled $4.63 billion (2024: $3.23 billion). The overall rise in the company’s balance sheet is primarily driven by a 51% year-over-year increase in Loans, Net of Provision for Credit Losses, which concluded the quarter at $4.26 billion compared to $2.82 billion in 2024. Additionally, Other Receivables grew by 34% year-over-year, reaching $94.30 million (2024: $70.62 million), while Intangible Assets surged by 493%, ending the quarter at $5.15 million, up from $869,000 in the previous year.
Shareholder’s equity was $1.21 billion (2024: $1.03 billion), representing a book value per share of $0.48 (2024: $0.41).
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