DBH Finance has reported a year-on-year drop in profit of nearly 34 percent for the first quarter of this year.

The profit amounted to Tk 17.24 crore in the January-March period of this year whereas it was Tk 26.1 crore in the same period last year.

This led a decline in earnings per share to Tk 0.87 from Tk 1.31 respectively, according to its disclosure on the Dhaka Stock Exchange (DSE) website today.

Meanwhile, the company's deposits decreased by Tk 155 crore.

This led to a massive hit for net operating cash flow per share of Tk 1.86 in the negative and Tk 7.93 respectively.

The institution specialising in housing finance attributed the declines to the lifting of the floor price at the DSE, which had led to a substantial drop in the share prices of some blue-chip shares.

As a result, DBH Finance had to keep Tk 8.64 crore in provisioning against its capital market investments, which was equivalent to 9.4 percent of its investments in listed securities.

This resulted in the decreases in the profit and EPS.

However, the company's loan disbursements increased by Tk 50 crore.

Shares of DBH Finance went down 0.52 percent from that on the day before to Tk 38.2 today.