Starting from today, the existing promoters of Janaki Finance Company Limited (JFL) are offering 58,000 units of shares for auction to the general public and institutions. Previously, the founder shareholders had announced the auction of these 58,000 units of promoter shares on a different date, but no applications were received. As a result, the shareholders have re-published a notice to auction the same 58,000 units of shares to the general public again, starting from today.
Janaki Finance Limited (JFL) reported a 70.76 percent decrease in net profit in the third quarter (Q3) of fiscal year 2079/80.
According to a report released today by the financing company, its net profit fell to Rs 1.53 crore in the third quarter from Rs 5.24 crore in the previous quarter.
In Q3, Janaki Finance had a paid-up capital of Rs 69.04 crore and reserves of Rs 29.82 crore. The firm also has Rs. 19.5 crores in negative retained earnings.
JFL has collected Rs 3.34 arba in deposits and has issued Rs 2.62 arba in loans and advances.
On the other side, the company’s NPL has climbed by a staggering 391.67% to 23.60%.