Central Finance posts net profit of Rs 2.15 crore; Lumbini Finance’s profit up 189%

Central Finance Company Limited (CFCL) has registered a net profit growth of 89.00% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the finance today, its net profit has increased to Rs 2.15 crore in second quarter, up from Rs 1.14 crore in the corresponding quarter of the previous fiscal year. CFCL’s net interest income has risen to Rs 3.85 crore in Q2 as compared to Rs. 2.36 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 30.22 crore with a reserve of Rs 8.55 crore. The finance also collected deposits of Rs 1.97 arba up from 1.77 arba in the corresponding quarter of previous year. Likewise, it has extended loans and advances of Rs 1.56 arba in Q2 whereas in the same period last year, the figure stood at Rs 1.39 arba. It has a CCD ratio of 66.95% CFCL’s annualized Earnings per Share (EPS) is Rs 7.13 per share. It has a net worth per share of Rs 128.10 per share. Its NPL has also dropped from 2.88% to 1.43% this quarter. Its 20^th AGM had endorsed 22.5% stock dividend and merger with Bhaktapur Finance. After the merger, the merged entity will have a paid up capital of Rs 52.7 crore. Lumbini Finance reports 189.08% upsurge in the net profit According to the unaudited financial report published by Lunbini Finance and Leasing Company Limited, its net profit has increased to Rs 3.53 crore in second quarter, up from Rs.1.22 crore in the corresponding quarter of the previous fiscal year. As of Q2, it has a paid up capital of Rs 55.68 crore with a reserve of Rs 24.70 crore. The bank also collected deposits of Rs 2.09 arba up from 1.99 arba in the corresponding quarter of previous year. Likewise, it has disbursed loans and advances of Rs 1.93 arba in Q2 whereas in the same period last year, the figure stood at Rs 1.94 arba. It has a CCD ratio of 66.55% LFLC has an annualized Earnings per Share (EPS) of Rs 25.37 per share. It has a net worth per share of Rs 144.36 per share. Its NPL has dropped to 8.30% from 16.29% in this period. It had recently distributed a bonus share of 35%. Its trading is currently in halt as it is in a merger process with Vibor Society Development Bank.