Gorkhas Finance in growth spree

Aug 22, 2019 12:58 PM Merolagani

Gorkhas Finance(GUFL) has managed to increase its net profit by Rs 59.7 million in the fourth quarter of the last FY despite a huge increase in employee expenses and other expenses by recovering  bad debt and decreasing non-performing loans.

In the review period, the company earned a net profit of Rs 70 million compared to Rs 11.2 million of the corresponding period of the previous FY.

The company increased its deposit collection by 23.81 percent to Rs 6.83 billion and loan extension by 27.03 percent to Rs 5.13 billion.

Similarly, the company increased its net interest income by 17.96 percent to Rs 24.7 million. Likewise, it earned other operating income of Rs 6.5 million and recovered bad debt of Rs 13.6 million.

The company spent 119 million on employee expenses that was Rs 73.4 million in the previous FY.

The company has bad debt of 4.60 percent, EPS of Rs 8.18, net worth per share of Rs 144.43 and P/E ratio of 11 times.

The company with Rs 867.9 million in paid-up capital has reserve fund of Rs 582.2 million.

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