Samriddhi Finance Company Limited (SFCL) has reported net loss in the second quarter.
The unaudited financial report of the finance company has stated that the net loss stands at Rs.87.86 Lakhs down from net profit of Rs.32.60 lakh posted in the corresponding quarter of the previous year.
It has extended loans of Rs.6.02 lakh and has collected deposits of Rs 11.83 Crore. It has paid up capital of Rs. 18.19 Crore with negative retained earnings of Rs 32.28 crore. The reserves stand at Rs 22.98 crore.
The finance company’s non-performing loan (NPL) to total loan stands at 100% in the current second quarter as well.
Net interest income has decreased to Rs.17.53 Lakh in the second quarter compared to Rs.26 Lakhs posted in the previous year.
The annualized EPS of the company stands at negative Rs.9.66 and Net worth per share at Rs.49.63.
Samriddhi Finance and Crystal Finance have entered the merger and acquisition deal by signing the MoU on Mangsir 12, 2076.