Nepal Finance publishes Q2 report after being lifted from problematic state; Reports net profit of Rs 2.27 crore

Nepal Finance Limited (NFS) has published its second quarter report of FY 2076/77 after being released from problem-ridden state.

It had reported net profit of Rs 2.27 crore which was Rs 2.75 crore in the second quarter of last year. Similarly, it has earned Rs 1.43 crore as net interest income and Rs 2.27 crore as operating profit. The rise in profit is largely attributed to the impairement charge reversal for loan loss provision.

Its paid-up capital stands at Rs 22.07 crore with reserves of Rs 19.24 crore. The retained earnings stand at a negative of Rs 14.95 crore.

The company was branded problem ridden on Mangsir 17, 2071 and subsequently, the trading in securities of the company was halted and listing was cancelled on Mangsir 18, 2071. Recently, on Mangsir 20, 2076 the company was revoked from problem ridden status and listing suspension from NEPSE had been lifted.

Second Quarter Report