Union and Hama Merchant Finance reports net profit of Rs 55.59 lakh and 2.80 crore respectively

ShareSansar, August 2:

Union Finance Company Limited (UFCL)has reported a profit riseof Rs 55.59 lakh in  the fourth quarter of the last  fiscal year 2071/72.

According to the unaudited quarterly report for the fourth quarter published today, the finance company has a net profit of Rs 55.59 lakhs in the fourth quarter of fiscal year 2071/72 whereas it had a  net loss of Rs 7.34 crore reported in the corresponding quarter of the previous year 2070/71.

The net interest income of Union finance has risen to Rs 2.38 crore, up from Rs 1.75 crore in the corresponding quarter.

It has also collected Rs 93.76 crore in deposits and has extended Rs 56.38 crore in loans.

The finance company non-performing loans decreased to 17.14 % in Q4 from 18.34 % in corresponding quarter of previous year. The company’s paid up capital remains at Rs 17.65 crore and CD ratio at 65.26 %.

Likewise, Hama Merchant & Finance Company Limited (HAMA) has posted a net profit of Rs 2.80 crore in the fourth quarter of the last fiscal year 2071/72.

Publishing the unaudited financial quarterly report today, the finance achieved Rs 2.80 crore in the net profit in the last fiscal year 2071/72, which is a decline from Rs 3.05 crore of net profit in the corresponding period of the previous fiscal year 2070/71.

Hama merchant net interest income has also decline to Rs 2.97 crore from Rs 3.30 crore in the corresponding quarter.

It has collected Rs 21.62 crore in deposits and disbursed Rs 23.31 crore in loans.

The finance company non-performing loans decreased to 2.21 % in Q4 from 10.94 % in corresponding quarter of previous year. The company’s paid up capital remains at Rs 20 crore.

Its CD ratio stands at 48.74 %. It’s annualized EPS stands at Rs 14.02 and net worth per share is priced at Rs 131.02.