Everest finance earned net profit of Rs. 7.3 million

Kathmandu January 31- Operating with Rs. 137.5 million paid up capital, Everest finance earned Rs. 7.3 million net profit in the second quarter of current fiscal year which was Rs. 6.4 million in corresponding period of previous fiscal year.

Company has balance of Rs. 27.5 million in its reserve fund. Deposit collection of the finance has grown by 13.30%  to Rs. 1billion 200.4 million which was Rs. 874.2 million last year. Loan and advance has also boosted by 25.39% to Rs. 931.9 million which was Rs. 743.2 million last year. Net interest income has increased by 26.52%  to Rs. 26.4 million.

Similarly, operating profit of the finance has increased by 14 % to Rs. 11.5 million which was Rs. 10.1 million last year. Finance has Rs. 6.4 million in its provision.

In the second quarter of current fiscal year, finance's risky asset is of 0.96% and bad debt is of 15.92%.