66% loss occurred in Srijana Finance while Mahalaxmi Finance earned 169% profit

Kathmandu November 2- Srijana Finance inflicted loss of 66% in the first quarter of current FY. Finance earned Rs. 3 million 487 thousand with 65.91% net loss while it had earned Rs. 10 million 231 thousand in the same period of last FY.

With the paid up capital of 134.4 million, reserve amount of the finance has totaled up to Rs. 75.4 million from 80 million last year. Deposit of finance has been increased by 75.36% to Ts. 1 billion 463 million which was 834.2 million last year. Lending has also increased by 56.41% to Rs. 1 billion 197 million. Net interest income of the finance has diminished by 12.31% to Rs. 12.3 million from 14.1 million last year.

Interest income and interest expenses of finance have grown by 15.36% and 38.23% respectively. Likewise, operating profit has decreased by 55.31% to Rs. 5.48 million which was Rs. 12 million 263 thousands last year. Though interest income of the finance has increased, operating profit and net profit seemed to decrease in this quarter. Risk management amount of the finance has sum up to Rs. 4.23 million.  Risky assets of the finance has decline to Rs. 15.98% from 20.19% whereas bad debt has increased by 0.49% to 1.17%.

Meanwhile, with the paid up capital of 420 million , Mahalaxmi Finance Ltd has succeeded to earn Rs. 18 million 486 thousands net profit in first quarter of current FY which is 169.39% growth from last year's Rs. 6 million 862 thousands net profit of same period.

Reserve amount of the finance has totaled by Rs. 205.2 million at present which was Rs. 181.1 million last year. Deposit collections has grown by 25.06% amounting Rs. 4 billion 699 million 295 thousands which was Rs. 3 billion 755 million 476 thousand.

Net interest income of the finance has decreased by 13.04% to Rs. 28 million 333 thousands from Rs. 32 million 585 thousands of last year. Interest income and  interest expenses of the finance  have increased by 6.53% and 15.73% respectively. Likewise, operating profit has declined by 17.10% to Rs. 8 million 740 thousands from 10 million 543 thousands last year.

Finance has deducted risk management fund by 10.82% to Rs. 2 million 19 thousands. In the first quarter of current FY, EPS of finance has been calculated as Rs. 17.61 whereas Net worth of share has been calculated as Rs. 148.87. Liquidity ratio stands on 33.17% and total asset value per share is Rs. 1298.36.

Risky assets has diminished by 17.30% to 15.30% and bad debt has decreased by 0.94% to 0.54%.