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).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.