In the review period, the finance companies earned a net profit of Rs 330.3 million which was Rs 357.2 million in the corresponding period of the last FY.
As per the data, out of 15 finance companies, eight are in loss, while seven are in profit. Even among the profit-making companies, only Multipurpose Finance logs a growth in net profit.
During the period, Manjushree Finance which earned the highest profit logged a decline of 12 percent in its profit. In the review period of the last FY, it earned a net profit of Rs 171.7 million. Similarly, Gorkhas Finance earned Rs 54.8 million in net profit which is 40 percent less than the last FY.
Likewise, the net profit of ICFC Finance declined by 60 percent to Rs 33.2 million, Shree Investment declined by 30 percent to Rs 21.2 million, Best Finance declined by 50 percent to Rs 11.4 million and Nepal Finance declined by 87 percent to Rs 1.3 million.
Among the companies, Multipurpose Finance’s net profit increased by 196 percent to Rs 15.9 million.
(Rs in Thousands)
Apart from these, all other finance companies are at a loss.
During the period, Pokhara Finance logged the highest loss of Rs 172.3 million. The company had earned net profit of Rs 35.7 million.
Similarly, Janaki Finance logged a loss of Rs 108.6 million. Although these companies are in huge loss, their share price is going up in the stock market.
