The current promoter of Machhapuchchhre Bank Limited (MBL) plans to auction 10,56,917 units of shares to fellow existing promoter shareholders starting today. Ganesh Bahadur Shrestha is looking to sell this portion of promoter shares within the next 35 days from the publication date of the notice, which is until the 1st of Falgun. Interested individuals are invited to participate in the auction by submitting their bids within the specified timeframe.
In the second quarter of the fiscal year 2080/81, HRL experienced a remarkable 154.65% rise in net premiums, reaching Rs. 1.99 Arba compared to the previous year. The company also demonstrated strong financial management by generating Rs. 47.32 Crores from investment income and other financial activities.
However, during the same period, there was a 50.90% increase in net claims, totaling Rs. 73.15 Crores.
Key financial indicators reflect HRL’s strong performance, with an annualized EPS of Rs. 12.05, net worth per share at Rs. 147.31, and a P/E ratio of 41.30 times, indicating the company’s resilience and promising financial outlook.
Nepal Insurance Company Limited (NICL) has released its report for the second quarter of fiscal year 2080/81, showing a significant rise in net profit by 232.33%. The company earned a net profit of Rs. 49.77 crores compared to Rs. 14.97 crores in the same quarter of the previous fiscal year.
Moreover, NICL has also increased its insurance fund by 4.95%, reaching Rs. 1.81 Arba in Q2 of FY 2080/81. Additionally, there has been a notable surge of 346.45% in the company’s income from investments, loans, and other sources, totaling Rs. 71.43 crores.
Bhagawati Hydropower Limited (BGWT) has announced a net profit of Rs. 3.77 Crores in the second quarter (Q2) of the current fiscal year 2080/81, marking a 23.26% increase from the same quarter last year when it was Rs. 3.06 crores.
Notably, the company has successfully paid off its long-term loans, resulting in no long-term debt burden. This move is expected to significantly reduce finance costs, as the company’s financial obligations will now primarily focus on short-term liabilities. As a result, a substantial portion of the sales revenue is expected to be channeled towards strengthening reserves.
Sanima Reliance Life Insurance Limited (SRLI) has posted a significant 96.48% rise in its net profit for the current quarter, reaching Rs. 21.97 crore, compared to Rs. 11.18 crore in the same quarter last year.
SRLI’s paid-up capital stands at Rs. 4.18 Arba, with retained earnings of Rs. 92.15 Crores, Rs. 2.42 Crores in other equity, and Rs. 11.83 Crores in catastrophe reserves. The company holds a life insurance fund worth Rs. 12.69 Arba and has investments totaling Rs. 15.65 Arba.
Himalayan Reinsurance Limited (HRL) has scheduled its 3rd Annual General Meeting (AGM) for the 20th of Falgun, 2080, to be held at Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, starting at 11:00 AM.
One of the key agendas of the AGM is the approval of a 4.21% dividend for the fiscal year 2079/80. During the 55th board of directors meeting on Magh 25, it was decided to distribute the dividend on the paid-up capital of Rs. 10 Arba. The proposed distribution includes 4% bonus shares and 0.21% cash dividend for tax purposes. This translates to bonus shares valued at Rs. 40 crores and a cash dividend of Rs. 2.10 crores.
Soaltee Hotel Limited (SHL) reported an impressive net profit of Rs. 26.31 crores in the second quarter of the fiscal year 2080/2081, marking a significant increase from Rs. 25.14 crores in the same period last year.
During this quarter, the company’s total revenue saw a notable rise of 9.44%, reaching Rs. 1.05 Arba, compared to Rs. 96.01 crores in the previous year’s corresponding quarter. At the same time, total expenses for the quarter stood at Rs. 73.28 crores.
Citizen Life Insurance Company (CLI) has notified its investors and stakeholders regarding the upcoming end of the lock-in period for 434,906 unit shares held by Mutual Funds. As per the recent directives from the Securities Board of Nepal (SEBON), this lock-in period, which began on Kartik 20, 2080, will conclude on the 27th of Falgun, 2080.
CLI had previously allocated 30 percent of its issued capital, amounting to Rs. 3.75 Arba, to the general public. Within this allocation, 5 percent was specifically designated for Mutual Funds, comprising 562,500 units of shares.
In its latest second-quarter report for the fiscal year 2080/2081, Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) reported a significant 32.87% decrease in net profit. The net profit for this quarter fell to Rs. 17.76 crore, down from Rs. 26.47 crore in the same period last year.
Despite the decline in net profit, the company saw a slight 0.10% increase in deposits, reaching Rs. 10.04 Arba. However, there was a 7.61% decrease in loans and advances, which amounted to Rs. 24.53 Arba in this quarter.
The current owner of Sindhu Bikas Bank Limited (SINDU) plans to sell 131,136 shares to existing shareholders who are interested in becoming promoters. This auction begins today and will last for 35 days, ending on the 26th of Magh. Interested shareholders must submit their bids at the bank’s central office in Banepa, Kavrepalanchowk. If there are no bids from existing shareholders within the given time, the shares will be available for auction to the general public afterward.
Sahas Urja Limited (SAHAS) has released its unaudited report for the second quarter of FY 2080/81, revealing an impressive 112.33% surge in net profit. The company’s net profit rose significantly to Rs. 45.86 crores for this quarter, a substantial increase from Rs. 21.59 crores in the same quarter last year.
SAHAS achieved notable revenue from power sales, totaling Rs. 1.53 Arba during this period. Despite facing finance expenses of Rs. 64.76 crore and administrative expenses of Rs. 4.94 Crore, the company maintains a robust financial position, with retained earnings at Rs. 2.6 Arba and a share capital of Rs. 3.5 Arba.
In the second quarter of the fiscal year 2080/81, Sikles Hydropower Limited (SIKLES) recorded a net profit of Rs. 6.29 crores, marking a slight uptick of 0.27% compared to the same period last year when it stood at Rs. 6.27 crores.
During this timeframe, the company’s long-term loan decreased by 6.76%, reaching Rs. 1.26 billion.
Revenue from power sales totaled Rs. 19.58 crores for Q2, while income from other sources amounted to Rs. 4.05 lakhs.