Sagarmatha Finance net profit grows by 62.97%; NPL down to 2.66

Sagarmatha Finance Limited has registered a tremendous profit growth of 62.97 percent in the third quarter (Q3) of the fiscal year 2073/74. As per the press release published by the finance company today, its net profit has escalated to Rs. 10.14 crore in the third quarter. Similarly, the deposits collection increased by 9.62% to Rs 3.26 arba whereas the lending surged to Rs 2.57 arba, 6.53% more than the corresponding quarter of last fiscal year. The finance company earning per share (EPS) stand at Rs 20.35 even after the issuance of 80% right share. The company had a high NPL of 3.83 in the previous quarter which was drastically reduced to 2.66 in the current quarter. The trading of this company is currently in halt as it is under an acquisition process with Century Commercial Bank.  The finance company is currently rendering services from 12 branches. it is in a process to  open 2 new branch offices in Chabahil (Kathmandu) and Taplejung.