United Finance reports 54% net growth at the end of the fourth quarter
Wed, Jul 30, 2014 12:00 AM on Others,
ShareSansar, July 30:
United Finance Limited has posted an impressive net profit growth of 54 percent in the last fiscal year 2070/71.
Publishing the unaudited financial report for the fourth quarter today, the finance company based in downtown Kathmandu has stated that its net profit has surged to Rs 8.46 crore from Rs 5.51 crore at the end of the previous fiscal year 2069/70.
The growth was propelled by its core business as its net interest income has risen to Rs 16.23 crore from Rs 13.86 crore at the end of the previous quarter.
It mobilized Rs 3.78 arba in deposit and Rs 3.16 arba in loan by the end of the fourth quarter as compared to Rs 2.97 arba in deposit and Rs 2.56 arba in loan during the corresponding quarter.
It has provisioned Rs 1.65 crore for possible loss while it has also managed to write back Rs 1.35 crore it had provisioned for possible loss.
Its non-performing loan has also come down from 0.77 percent to 0.54 percent.
United Finance’s EPS now stands at Rs 24.14, P/E ratio at 10.60 and net worth per share at 143.84.
