Tag: 1

  • GBLBS Reports Net Profit of Rs. 5.9 Crores in Q3 of FY 2079/2080 with Decreased Net Interest Income and Non-Performing Loans

    GBLBS Reports Net Profit of Rs. 5.9 Crores in Q3 of FY 2079/2080 with Decreased Net Interest Income and Non-Performing Loans


     

    Grameen Bikas Laghubitta Bittiya Sanstha Limited (GBLBS) has reported a net profit of Rs. 5.9 Crores in the third quarter of FY 2079/2080, marking a 79.19% decrease compared to the same quarter in the previous year. The company’s net interest income decreased by 26.48% to Rs. 67.31 Crores, while its borrowings decreased by 16.70% to Rs. 5.70 Arba and deposits decreased by 4.55% to Rs. 3.75 Arba. The company’s loans and advances also decreased by 10.03% to Rs. 12.71 Arba in this quarter. Non-performing loans increased to 7.94% from 4.23% in the corresponding quarter, while annualized earnings per share (EPS) stands at Rs. 8.01 and net worth per share is Rs. 235.87.

  • IGI and PICL Complete Merger, Forming IGI Prudential Insurance Limited with Total Paid-Up Capital of Rs. 3.02 Arba

    IGI and PICL Complete Merger, Forming IGI Prudential Insurance Limited with Total Paid-Up Capital of Rs. 3.02 Arba


    The merger between IME General Insurance Limited (IGI) and Prudential Insurance Company Limited (PICL) has been finalized, with the two companies agreeing to a 1:1 swap ratio and forming a new entity called “IGI Prudential Insurance Limited”.

    The merger has received final approval from the Nepal Insurance Authority and the Office of the Registrar of Companies, with joint business operations set to begin on May 10, 2023. The newly merged company will have a total paid-up capital of Rs. 3.02 Arba, combining the current paid-up capital of IGI and PICL. Additionally, IGI and PICL announced dividends of 6.32% and 3.5%, respectively, for Fiscal Year 2078/79.

  • Sanima Mai Hydropower reports 20.40% decline in net profit in Q3 of FY 2079/80

    Sanima Mai Hydropower reports 20.40% decline in net profit in Q3 of FY 2079/80


    Sanima Mai Hydropower Company Limited (SHPC) has reported a decline in net profit by 20.40% in the third quarter (Q3) of FY 2079/80. The company’s net profit decreased to Rs. 35.82 crores in this quarter from Rs. 45 crores in the corresponding quarter of the previous year. The decline in net profit is due to a decrease in revenue from the Sale of Electricity, which decreased by 16.16% compared to the corresponding previous year’s quarter ending. The decreased revenue is attributed to the end of the Posted Rate Facility Agreement for Mai Hydropower Project (15.6 MW) and unfavorable hydrological conditions during this quarter.

    The company has invested around Rs. 3.62 Arba in associates, which have increased by 196.12% in this quarter. SHPC has investments in various associates companies, including Sanima Middle Tamor Hydropower Ltd, Mathillo Mailun Khola Jalvidhyut Hydropower Ltd, Bavari Construction Pvt. Ltd, and Sanima Jum Hydropower.

    SHPC has a share capital of Rs. 3.08 Arba, and the retained earnings are Rs. 1.11 Arba, with other reserves of Rs. 2.39 Arba. The company has recognized other comprehensive gain of NPR. 2,388,872,000 resulting from the fair value measurement of shares invested in Swet Ganga Hydropower and Construction Ltd. and Sanima Middle Tamor Hydropower Ltd. (Listed Associate Companies) as on third-quarter end, 2079. The gain has been shown under other reserves as Fair Value Reserve.

    The annualized EPS stands at Rs. 15.46, and the net worth per share at Rs. 213.81, with the company’s P/E standing at 21.80 times.

  • Gold Price Breaks All-Time High Record Again, Silver Also Up

    Gold Price Breaks All-Time High Record Again, Silver Also Up


    The price of gold in Nepal has broken an all-time high record once again, gaining Rs. 1200 in a single day. As per the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is being traded today at Rs. 111,800 per tola, while Tejabi gold is being traded at Rs. 111,250. This is a significant increase from yesterday’s rate of Rs. 110,600 and Rs. 110,050 per tola for fine gold and Tejabi gold, respectively.

    This recent surge in the price of gold follows the previous all-time high recorded on April 5th, 2023, when fine gold was traded at Rs. 111,000 per tola and Tejabi gold at Rs. 110,450 per tola. Silver has also seen a rise in its price, with a gain of Rs. 20 per tola. The white metal is currently being traded at Rs. 1,445 per tola in the local market, up from yesterday’s closing rate of Rs. 1,425 per tola.

    In the international market, gold was traded at around $2,015.60 per ounce as of yesterday. However, the current rate of gold in the international market has reached USD $2,044.50 per ounce, while silver is being traded at $25.69 per ounce. It is worth noting that gold had reached an all-time high of $2074.88 in August 2020.

  • SEBON issues Letters of Intent to 13 new broker companies who submitted license applications.

    SEBON issues Letters of Intent to 13 new broker companies who submitted license applications.


    The Securities Board of Nepal (SEBON) has initiated the process of granting new licenses for stock brokers and dealers. Following the revision of the Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064, SEBON announced a 30-day deadline for accepting applications for new licenses. As a result, 45 companies applied for stock broker licenses and one company applied for a stock dealer license.

    Recently, SEBON issued Letters of Intent (LOI) to 13 new broker companies that had applied for licenses. Earlier, at a board of directors meeting, 16 companies had already received LOIs. So far, 29 companies that have applied for broker licenses have received LOIs from SEBON.

    Once a new broker company receives a letter of intent from SEBON, it is required to set up its infrastructure according to the board-established standards. Following infrastructure preparation, SEBON will monitor the company to ensure that all requirements are met. If all requirements are met during monitoring, the company will be granted a license.

  • Citizen Investment Trust reports 26.15% increase in net profit for Q3 FY 2079/80

    Citizen Investment Trust reports 26.15% increase in net profit for Q3 FY 2079/80


    Citizen Investment Trust (CIT) has released its unaudited report for the third quarter of the fiscal year 2079-2080, showing a significant increase in net profit. The company recorded a net profit of Rs. 77.79 crores, marking a 26.15% increase from the corresponding quarter of the previous year.

    During this quarter, CIT made investments amounting to Rs. 2.12 Kharba, which is a 13.02% increase compared to the relevant quarter of the previous year. According to the report published by the company, the paid-up capital currently stands at Rs. 4.25 Arba. However, the share premium of the company decreased by 77.56% and now stands at Rs. 28.38 crores.

    The earnings per share (EPS) for CIT during this quarter was Rs. 24.40 on an annualized basis. Additionally, the company reported a Return on Investment (ROI) of 9.67% and a price-to-earnings (P/E) ratio of 85.65 times for the third quarter of FY 2079/80. Overall, this unaudited report suggests that CIT has performed well in this quarter, with notable growth in net profit and investments.

  • Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public

    Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public


    Citizens Capital Limited has announced the closure of its mutual fund scheme, “Citizens Super 30 Mutual Fund”, to the general public from 20th Baisakh, 2080. The issue was opened on the 6th of Baisakh and was supposed to close on the 10th of Baisakh, 2080. However, as the issue manager didn’t receive enough applications, the issue was extended until the 20th of Baisakh.

    Out of a total of 10 crore unit shares, 1.50 crore units worth Rs. 15 crores have been allocated to the fund promoter, Citizens Bank International Limited, while the remaining 8.5 crore units are for the general public. The fund will be traded in the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants can apply for a minimum of 100 units and a maximum of 10,000,000 units.

    According to the CDSC, a total of 15,683 applicants have applied for 47,295,800 units worth Rs. 47.29 crore so far. This indicates a good response to the scheme, even though the issue was extended due to insufficient applications.

    Citizens Capital Limited currently manages two closed-end funds in the market, Citizens Mutual Fund-1 (CMF1) and Citizens Mutual Fund-2 (CMF2). The closure of the Citizens Super 30 Mutual Fund scheme is expected to be beneficial for investors looking to invest in a diversified portfolio and achieve long-term financial goals.

  • Chilime Hydropower Company Limited reports a slight increase in net profit in Q3

    Chilime Hydropower Company Limited reports a slight increase in net profit in Q3


    Chilime Hydropower Company Limited (CHCL) has released its third-quarter unaudited report, showing a 1.34% increase in net profit. In this quarter, the company’s profit increased to Rs. 52.89 crores, compared to Rs. 52.20 crores in the corresponding quarter of the previous year.

    Despite the increase in net profit, the company has experienced a 2.33% decrease in electricity sales worth Rs. 80.42 crores during the quarter. The management has attributed this decline to a decrease in the amount of electricity purchased as compared to the previous year’s Chaitra, which resulted in a decrease in income from the sale of electricity. CHCL has also earned finance (interest) income of Rs. 17.58 crore till Q3.

    For this quarter, the company has reported administrative expenses of Rs. 6.40 Crores and operating expenses worth Rs. 7.38 Crores.

    CHCL’s reserve fund currently stands at Rs. 3.13 Arba, with share capital at Rs. 7.25 Arba. The earnings per share of the company stands at Rs. 9.72 with a net worth per share at Rs. 143.23. The P/E ratio of the company stood at 50.42 times.

    To sum up, CHCL has reported an increase in net profit despite a decline in electricity sales during the third quarter. However, the company has also reported administrative and operating expenses, with a reserve fund and share capital of Rs. 3.13 Arba and Rs. 7.25 Arba, respectively.

  • Gold Prices Reach Near All-Time High in Nepalese Market

    Gold Prices Reach Near All-Time High in Nepalese Market


    Gold prices are on the rise in the Nepalese market once again. Today, fine gold gained Rs. 1800 per tola while tejabi gold rose by Rs. 1750 per tola from yesterday’s price. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is being traded today at Rs. 110,600 per tola, while tejabi gold is being traded at Rs. 110,050 per tola.

    This increase in gold prices comes after the precious metal reached an all-time high in the Nepalese market on 5th April 2023, with fine gold trading at Rs. 111,000 per tola and tejabi gold trading at Rs. 110,450 per tola. Currently, the international price of gold is at USD $2,015.60 per ounce, with silver being traded at $25.24 per ounce.

    On the other hand, silver prices have also risen in the Nepalese market, gaining Rs. 20 per tola. The white metal is being traded today at Rs. 1,425 per tola compared to yesterday’s closing rate of Rs. 1,405 per tola.

    The increase in gold prices can be attributed to various global factors such as inflation fears, economic uncertainties, and geopolitical tensions. In August 2020, gold reached an all-time high of $2074.88 per ounce in the international market, further highlighting its significance as a safe-haven asset. Despite the fluctuation in gold prices, it remains an attractive investment option for many people, especially during times of economic volatility.

  • Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) lists 16.83 lakh unit bonus shares on NEPSE following 21% dividend approval

    Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) lists 16.83 lakh unit bonus shares on NEPSE following 21% dividend approval


    Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) has listed 16,83,255 unit bonus shares on NEPSE. The decision was made after the company’s 21st Annual General Meeting (AGM) held on 19th Falgun, where a dividend of 21.05% worth Rs. 23.62 crores for the fiscal year 2078/79 was approved. This return was based on the paid-up capital of Rs. 1.12 Arba. The company’s board of directors had proposed a 15% bonus share and a 6.05% cash dividend (including tax) worth Rs. 16.83 crores and Rs. 6.79 crore, respectively, during the 403rd meeting held on Poush 27.

    Following the announcement, the bonus shares of SWBBL were made available for trading on NEPSE. The microfinance company had closed at Rs. 745 as of the previous day’s market close. This decision to distribute bonus shares is expected to benefit the company’s shareholders and attract potential investors. SWBBL’s positive financial performance and its commitment to providing attractive returns to its shareholders are evident in this news.

    SWBBL’s listing of bonus shares on NEPSE is a result of the company’s 21st AGM, where a dividend of 21.05% worth Rs. 23.62 crores was approved. The company’s board of directors proposed a 15% bonus share and a 6.05% cash dividend (including tax) worth Rs. 16.83 crores and Rs. 6.79 crore, respectively. The decision to distribute bonus shares indicates the company’s strong financial performance and its efforts to benefit its shareholders and attract potential investors.

  • Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public

    Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public


    Modi Energy Limited has started offering 55,59,420 unit IPO shares with a face value of Rs 100 to the public, aiming to raise Rs 55.59 crore. The IPO will close on the 24th of Baisakh, and it can be extended up to the 2nd of Jestha, 2080, if it is not fully subscribed. The company had previously issued 29,00,000 unit shares worth Rs. 29 crores to project-affected locals of Parbat District, and the remaining 20,95,610 units of unsubscribed shares are added to 43,50,000 units reserved for the general public. A total of 64,45,610 units are for the general public. Sunrise Capital Limited is the issue manager for the IPO, and applications can be made for a minimum of 10 units and a maximum of 100,000 units. Modi Energy Limited has been promoted by institutional promoters and individual businessmen, and the Hydroelectric Project of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project, is being constructed under the “BOOT” model in the Parbat district of Nepal.

  • Upper Solu Hydro Electric Company Reports Net Profit of 1.08 Crores in Q3; Financial Expenses Increased By Huge Margin of 244.73%

    Upper Solu Hydro Electric Company Reports Net Profit of 1.08 Crores in Q3; Financial Expenses Increased By Huge Margin of 244.73%


    Upper Solu Hydro Electric Company Limited (USHEC) has released its unaudited third-quarter report for FY 2079/2080, reporting a net profit of Rs. 1.08 Crores, indicating a 78.98% decline from the relevant period of the previous fiscal year. The company’s paid-up capital remains at Rs. 1.35 Arba, and it has a negative reserve of Rs 3.64 Crores. Additionally, USHEC generated electricity sales worth Rs. 53.39 Crores in Q3 of FY 79/80, while finance expenses increased significantly by 244.73%, amounting to Rs. 30.73 Crores, affecting the company’s profitability for the period. The management analysis states that electricity was produced entirely from the organization’s project during the quarter period, and electricity was sold from the 132 KV transmission line, but reduced water flow in the river resulted in lower income than previous quarters. The company’s annualized EPS stood at Rs. 1.07, and its net worth per share was Rs. 97.30.