Sagarmatha Finance reports 83 % increase in net profit; Reserve grows by 88%

Sagarmatha Finance Limited (SAFL) has posted a growth of 83.61 percent in its net profit for the second quarter of the fiscal year 2073/74. According to the unaudited financial report published by the finance company today, its net profit has increased to Rs 5.61 crore in the second quarter, up from Rs. 3.05 crore in the corresponding quarter of the previous fiscal year 2072/73. Its net interest income has also increased to Rs. 8.27 crore in Q2, up from Rs. 6.05 crore in the corresponding quarter of the previous fiscal year. Its paid up capital remains at Rs 36.92 crore and has a reserve of Rs 26.89 crore. Its non-performing loan has decreased to 2.65 percent from 3.87 percent in the second quarter. Sagarmatha Finance Limited’s annualized earning per share (EPS) stands at Rs 30.43, net worth per share at Rs 172.83, and the P/E ratio at 8.22 times. Major Highlights:

Indicators (Rs in "000")	FY 2073/74 Q2	FY 2072/73 Q2	Difference (%)
Paid Up Capital	369,298.70	318,773.09	15.85%
Reserve and Surplus	268,975.06	142,661.39	88.54%
Deposits	3,218,729.79	2,865,743.73	12.32%
Loans and Advances	2,781,866.20	2,435,113.94	14.24%
Net Interest Income	82,753.68	60,549.25	36.67%
Provision	32,347.08	5,527.01	-
Write Back	-	8,487.63	-
Operating Profit	38,491.10	37,123.65	3.68%
Net Profit	56,183.89	30,599.59	83.61%
Capital Adequacy Ratio	18.79%	15.63%	-
NPL	2.65%	3.87%	-
Base Rate	9.70%	9.85%	-
CD Ratio (as per NRB)	75.72%	77.53%	-
EPS (Annualized)	30.43	19.20	58.50%
PE Ratio	8.22
Networth Per Share	172.83