Massive profit growth of Pokhara Finance by 3.6 times in Q2; Bhaktapur finance profit drop by 47.42% in Q2

Pokhara Finance Limited (PFL) has registered massive profit rise of 359.51 percent in the second quarter of the current fiscal year 2072/73. According to the unaudited financial report published by the finance today, its net profit has surged to Rs 2.56 crore in second quarter up from Rs 55.92 lakh in the corresponding quarter of the last fiscal year 2071/72. Pokhara Finance net interest income has risen to Rs 5.86 crore in the second quarter as compared to Rs 4.27 crore in the corresponding quarter. It’s paid up capital remains at Rs 49.11 crore. The finance also amassed huge amount of deposits in the Q2 of the ongoing fiscal year. Deposits collection reached Rs 3.08 arba in Q2 from Rs 2.58 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 2.40 arba in Q2 whereas in the same period last year the figure stood at Rs 2.24 arba. Its non-performing loan has also decline to 2.30 percent in Q2 up from 3.49 percent in the previous year report. PFL Earning per share (EPS) stand at Rs 5.23, net worth per share at 127.50, and the P/E ratio at 51.63 times. Meanwhile, Bhaktapur Finance Company Limited (BFCL) has reported decrease in net profit by 47.42 percent in the second quarter of the current fiscal year 2072/73. Its net profit decline to Rs. 27.63 lakh in Q2 from Rs 52.56 lakh in the corresponding quarter. Publishing the unaudited financial report for Q2 today, the finance company deposit collection reached to Rs.46.22 crore from Rs. 39.18 crore in Q2 last year. It floated loans of Rs.21.62 arba, rising from Rs. 28.36 crore in the corresponding quarter of the previous fiscal year. Bhaktapur Finance net interest income has risen from Rs.86.71 lakh in the same quarter of previous year to Rs. 1.07 crore in Q2. BFCL’s paid up capital remains at Rs. 20 crore and with reserve of Rs. 1.81 crore. Its NPL has risen to 5.49%, which is above the limits set by Nepal Rastra Bank (NRB) in second quarter from 4.14 % in the previous quarter. Bhaktapur Finance’s EPS stands at R 2.76 and net worth per share is Rs 109.09.