Tag: records

  • Nepal’s Gold Market Surges to Unprecedented Heights, Breaking Records Once Again on March 6, 2024

    Nepal’s Gold Market Surges to Unprecedented Heights, Breaking Records Once Again on March 6, 2024


    The gold market in Nepal witnessed yet another remarkable surge, surpassing the record set just the day before, reaching an unparalleled peak on March 6, 2024. The Federation of Nepal Gold and Silver Dealers’ Association reported an extraordinary single-day increase of Rs. 500, driving the price of fine gold to an unprecedented rate of Rs. 1,23,500 per tola. This surge comes on the heels of the historical milestone achieved on March 5, 2024, when fine gold reached Rs. 1,23,000 per tola.

    Tejabi gold, another highly coveted variety, also experienced a notable rise, currently priced at Rs. 1,22,900 per tola, marking an increase from its previous rate of Rs. 1,22,400. However, silver prices saw a slight decline of Rs. 5 per tola, with the current market rate standing at Rs. 1,440 per tola, in contrast to the previous day’s closing rate of Rs. 1,445 per tola.

    As the domestic market witnesses a substantial increase in prices, the international market continues to play a significant role. As of the latest update, the current gold rate stands at $2,125.90 per ounce. Meanwhile, silver is also experiencing positive momentum globally, with prices reaching $23.59 per ounce.

  • NEPSE Index Drops 1.31% to 2,034.82; HRL Leads in Turnover

    NEPSE Index Drops 1.31% to 2,034.82; HRL Leads in Turnover


    On the first trading day of the week, the Nepal Stock Exchange (NEPSE) saw a drop, with the index falling by 27.21 points or 1.31% compared to the previous day, closing at 2,034.82 points. This continues a trend from the previous Thursday when the index went down by 14.46 points.

    Starting today’s trading, the market opened at 2,060.68, reaching a high of 2,062.32 during the day and a low of 2,030.29. Ultimately, it ended at 2,034.82 levels.

     

  • Sanima Reliance Life Insurance’s Q2 Net Profit Surges 96.48%; Life Insurance Fund at Rs. 12.69 Cr

    Sanima Reliance Life Insurance’s Q2 Net Profit Surges 96.48%; Life Insurance Fund at Rs. 12.69 Cr


    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.

     

  • Jeevan Bikas Laghubitta Reports 32.87% Q2 Net Profit Decline, Core Revenue Slump, and Slight Deposit Rise

    Jeevan Bikas Laghubitta Reports 32.87% Q2 Net Profit Decline, Core Revenue Slump, and Slight Deposit Rise


    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.

     

  • HIDCL Achieves Remarkable Milestone with 11.47% Surge in Q2 FY 2080/81 Net Profit, Reaching Rs. 75.27 Crore; EPS Soars to Rs. 6.61

    HIDCL Achieves Remarkable Milestone with 11.47% Surge in Q2 FY 2080/81 Net Profit, Reaching Rs. 75.27 Crore; EPS Soars to Rs. 6.61


     

    Hydroelectricity Investment and Development Company Limited (HIDCL) reveals a robust financial performance in its recently released unaudited quarterly report for the second quarter of fiscal year 2080/81. Demonstrating an impressive 11.47% increase in net profit, the company achieved a milestone of Rs. 75.27 Crore compared to the previous year’s Rs. 67.52 Crore. With a solid foundation, HIDCL boasts a paid-up capital of Rs. 22.77 Arba and a substantial reserve and surplus of Rs. 1.89 Arba. The company’s strategic investment in equity, amounting to Rs. 3.23 Arba, resulted in a noteworthy revenue of Rs. 1.23 Crores during the same period. Additionally, HIDCL’s finance income of Rs. 1.07 Arba further accentuates its financial prowess, making it a promising entity in the realm of hydroelectric investment and development.

     

  • Mountain Energy Nepal Limited (MEN) Records Marginal 1.63% Dip in Q2 Net Profit, Power Sales Revenue Slightly Decreases by 1.18%

    Mountain Energy Nepal Limited (MEN) Records Marginal 1.63% Dip in Q2 Net Profit, Power Sales Revenue Slightly Decreases by 1.18%


    In the second quarter of the fiscal year 2080/81, Mountain Energy Nepal Limited (MEN) experienced a marginal decline in net profit, registering a decrease of 1.63%. The net profit for this quarter amounted to Rs. 35 crores, down from Rs. 35.58 crores in the same quarter of the previous fiscal year.

    The company’s revenue derived from power sales during this quarter totaled Rs. 73.52 crores, reflecting a modest decrease of 1.18% compared to the corresponding quarter in the previous year. MEN’s power sales revenue is predominantly generated by two projects, namely the Tadi Khola Project (5 MW) and the Mistri Khola Project (42 MW). Notably, the Tadi Khola Project invoiced Rs. 86,606,726, and the Mistri Khola Project invoiced Rs. 657,610,049 to the Nepal Electricity Authority during this period, following the terms outlined in the Power Purchase Agreement (PPA).

    Key financial highlights for MEN include retained earnings at Rs. 1.52 Arba and share capital standing at Rs. 1.96 Arba. The annualized earnings per share (EPS) is reported at Rs. 35.58, and the net worth per share stands at Rs. 177.32.

    The provided table summarizes various financial indicators for MEN in the second quarters of 2080/81 and 2079/80. Noteworthy figures include administrative expenses showing a decrease of 8.71%, finance expenses decreasing by 8.78%, and a net worth per share increase of 11.69%. The quarter-end price-to-earnings (PE) ratio is reported at 18.41 times, and the quarter-end market price stood at Rs. 655.

  • Nepal Stock Exchange: Small Dip, Some Gains, and Sector Highlights

    Nepal Stock Exchange: Small Dip, Some Gains, and Sector Highlights


    The Nepal Stock Exchange (NEPSE) Index concluded with a marginal loss of 0.40 points or 0.01% compared to the previous day, settling at 2,098.29 points. In the preceding trading session, the index had faced a more substantial loss of 31.49 points. The day commenced with the index opening at 2,096.99 and fluctuated throughout, hitting an intraday low of 2,087.22 and reaching a peak at 2,112.15.

    During today’s trading activities, 310 different stocks were traded in a total of 117,566 transactions. The volume of shares exchanged amounted to 11,801,360, with a total turnover of Rs. 4.29 Arba. The market capitalization was recorded at Rs. 32.95 Kharba, while the float market capitalization stood at Rs. 11.36 Kharba.

    Himalayan Reinsurance Limited (HRL) led in turnover, achieving Rs. 55.09 crore and concluding the day with a market price of Rs. 659. Meanwhile, Chandragiri Hills Limited (CGH) experienced the highest gain of 10%, followed closely by Nepal Lube Oil Limited (NLO) with a gain of 9.99%. On the other hand, Mid Solu Hydropower Limited (MSHL) faced the most significant loss of 6.20%.

    In terms of sector indices, six sectors closed positively today. The “Hotel & Tourism Index” stood out with the highest gain of 4.74%, while the “Trading Index” witnessed a loss of 0.86%.

  • Muktinath Bikas Bank Q2 FY 2080/81: 32.93% Net Profit Drop

    Muktinath Bikas Bank Q2 FY 2080/81: 32.93% Net Profit Drop


    Muktinath Bikas Bank Limited (MNBBL) has disclosed its second-quarter report for the fiscal year 2080/81, revealing a notable 32.93% decrease in net profit, dropping from Rs. 62.62 Crores in Q2 FY 2079/80 to Rs. 42 Crores in Q2 FY 2080/81. Concurrently, the bank reported a negative distributable profit after PL Appropriation and Regulatory Adjustments, amounting to Rs. 31.72 Crores during the same quarter.

    In terms of deposits, customer deposits underwent a 3.55% reduction, settling at Rs. 1.12 Kharba. However, loans and advances to customers saw a 1.95% upswing, reaching Rs. 96.29 Arba. Despite these fluctuations, the bank’s core business income, represented by Net Interest Income, demonstrated a positive trend, experiencing a 2.12% increase to Rs. 2.08 Arba compared to the corresponding quarter of the previous year.

    MNBBL’s financial structure comprises a paid-up capital of Rs. 7.04 Arba and Rs. 2.92 Arba in reserves and surplus. The annualized earnings per share (EPS) for the bank stood at Rs. 11.24, accompanied by a Net worth per share of Rs. 137.03.

    A notable aspect is the company’s trading position, characterized by a Price/Earnings (P/E) multiple of 34.22 times. Additionally, the Capital Adequacy Ratio (CAR) of the bank stands at 11.25%. However, there is a noteworthy increase in the Non-performing loan (NPL) ratio, which climbed to 2.51%.

  • Laxmi Sunrise Bank Q2 Report: Modest Profit Dip Amidst Impressive Growth and NPL Concerns

    Laxmi Sunrise Bank Q2 Report: Modest Profit Dip Amidst Impressive Growth and NPL Concerns


    Laxmi Sunrise Bank Limited (LSL) has shared its financial results for the second quarter of the fiscal year 2080/81, reporting a small 1.66% decrease in net profit to Rs. 1.05 Arba compared to the same period last fiscal year when it earned Rs. 1.07 Arba.

    The bank showcased positive growth with a remarkable 104.66% increase in net interest income, reaching Rs. 5.65 Arba, and operating profits rising to Rs. 1.44 Arba for the corresponding period. However, loans and advances saw a slight 0.07% decrease, while customer deposits increased by almost 4.84% to Rs. 3.1 Kharba. Notably, impairment charges surged significantly by 376.87%, totaling Rs. 2.73 Arba in Q2 of FY 2080/81.

    For the fiscal year, LSL reported an annualized earnings per share (EPS) of Rs. 9.14, and the net worth per share was Rs. 166.62. A concern arises as Non-Performing Loans (NPL) saw a substantial 199.36% increase, reaching 4.67% in the second quarter, a significant jump from the 1.56% recorded in the same period last fiscal year.

    LSL reported negative distributable profits of Rs. 81.18 Crores, while maintaining a paid-up capital of Rs. 23.18 Arba and reserves and surplus amounting to Rs. 16.26 Arba in Q2 of FY 2080/81. Specific figures show an increase of 7.00% in paid-up capital to Rs. 23,187,155.00, a decline of 146.97% in retained earnings to -811,864.00, and a 9.67% increase in reserves to 16,260,042.00. Deposits rose by 4.84% to Rs. 310,591,321.00, and loans and advances experienced a marginal decrease of 0.07% to Rs. 247,691,314.00. Net Interest Income increased significantly by 104.66% to Rs. 5,658,331.00. Personnel expenses and impairment charges were reported at Rs. 1,802,336.00 and Rs. 2,732,609.00, respectively.

    The operating profit for the quarter was Rs. 1,445,052.00, reflecting a 3.22% decrease, and the net profit stood at Rs. 1,059,210.00, representing a 1.66% decline. The capital adequacy ratio is reported at 12.67%, showing a slight decrease from the previous year. The Cost of Fund decreased by 14.59% to 7.61%. The NPL percentage increased significantly by 199.36%, reaching 4.67%. The Qtr end PE Ratio stands at 19.06 times.

  • Citizens Bank Q2 Report: Profits Dip 6.96%, Challenges Emerge

    Citizens Bank Q2 Report: Profits Dip 6.96%, Challenges Emerge


    Citizens Bank International Limited (CZBIL) has disclosed its financial performance for the second quarter of fiscal year 2080/81, revealing a 6.96% decline in net profit to Rs 78.27 Crores. The bank’s total paid-up capital is reported at Rs. 14.20 Arba, with reserves amounting to Rs. 6.77 Arba. However, retained earnings have recorded a negative value of Rs 21.3 Crores.

    During the mentioned quarter, the bank experienced a significant increase in total deposits, reaching Rs 1.75 Kharba, while loans and advances to customers reached Rs 1.48 Kharba. Despite a marginal 0.21% decrease, the Net Interest Income remained substantial at Rs. 2.83 Arba. However, the bank faced challenges with personnel expenses amounting to Rs. 93.01 Crores and impairment charges of Rs. 85.95 Crores.

    In terms of financial metrics, the second quarter reported an annualized EPS of Rs 11.02, and the net worth per share stood at Rs 146.20. However, CZBIL grapples with a spike in Non-Performing Loans (NPL) to 4.07%. Additionally, the revelation of a negative distributable profit of Rs. 21.30 Crores adds a significant dimension to CZBIL’s financial narrative during this period.

    Examining specific figures, the paid-up capital remained constant at Rs. 14,200,974.01, and reserves witnessed a 14.52% increase to 6,774,208.15. Deposits showed a notable 4.13% rise to Rs 175,808,073.73, while loans and advances increased by 6.06% to Rs 148,304,167.36. Net Interest Income experienced a marginal decrease of 0.21% but remained substantial at Rs. 2.83 Arba. Personnel expenses and impairment charges were reported at Rs. 930.18 Crores and Rs. 859.50 Crores, respectively.

    The operating profit for the quarter was Rs 1,086,454.06, reflecting an 8.85% decrease, and the net profit stood at Rs 782,784.84, representing a 6.96% decline. Furthermore, the disclosure of a negative distributable profit of Rs. 21.30 Crores underscores the financial challenges faced by CZBIL. The capital adequacy ratio is reported at 13.00%, showing an increase from the previous year. The Cost of Fund decreased by 15.73% to 7.77%. The NPL percentage increased significantly by 36.12%, reaching 4.07%. The Qtr end PE Ratio stands at 15.61 times, and the Qtr End Market Price is reported at 172.1.

  • NEPSE Index Surges by 1.88%, Records Highest Turnover in Eleven and a Half Months

    NEPSE Index Surges by 1.88%, Records Highest Turnover in Eleven and a Half Months


    The Nepal Stock Exchange (NEPSE) Index demonstrated a robust performance with a notable gain of 38.14 points or 1.88% compared to the previous day, concluding at 2,060.49 points. This follows a positive trend from the prior trading day, which saw a gain of 27.75 points for the index.

    The day’s market activity commenced with the index opening at 2025.73, reaching an intraday low of 2,025.68, and achieving an intraday high of 2,070.59, indicating dynamic fluctuations throughout the trading session.

    Today’s trading session witnessed the participation of 305 different stocks in 113,693 transactions. The volume of shares traded amounted to 21,497,619, contributing to a total turnover of Rs. 6.86 Arba. Notably, this marks the highest turnover recorded by NEPSE in the past eleven and a half months. The market capitalization stood at Rs. 31.78 Kharba, with a float market capitalization of Rs. 11.05 Kharba.

    Himal Dolakha Hydropower Company Limited (HDHPC) emerged with the highest turnover, reaching Rs. 26.26 crores, and closed at a market price of Rs. 149.10.

    Additionally, nine companies experienced positive circuit hits during the day. Conversely, Himalayan Power Partner Ltd. (HPPL) faced the highest loss of 7.86%.

    In terms of sector performance, all sectors closed in the green except for the “HydroPower Index.” The “Microfinance Index” observed the highest gain of 5.53%, while the “HydroPower Index” incurred a loss of 0.33%. This indicates a generally positive market sentiment with particular strength in the microfinance sector.

  • Capital Gains Tax Soars Over 262% in Mangsir, Fueled by Short-Term Investors’ Surge

    Capital Gains Tax Soars Over 262% in Mangsir, Fueled by Short-Term Investors’ Surge


    In a notable development, the capital gains tax collected from the stock market has experienced a remarkable surge, witnessing a staggering 262% increase in the month of Mangsir compared to the preceding month of Kartik. The government’s revenue from capital gains tax saw a substantial rise from Rs 8.41 crore in Kartik to an impressive Rs 30.53 crore in Mangsir.

    A closer examination of the data reveals that the surge in capital gains tax during Mangsir was primarily driven by short-term investors, who contributed significantly to the overall increase. Short-term investors individually paid Rs 14.14 crore in Mangsir, a considerable jump from the Rs 4.60 crore paid in Kartik. Following suit, long-term investors also played a role in this surge, contributing the second-highest amount of profit tax, amounting to Rs 9.24 crore in Mangsir as opposed to the Rs 2.69 crore in Kartik. Despite being in third place, institutional investors made a noteworthy contribution of Rs 7.14 crore in Mangsir, a significant increase from their Rs 1.11 crore contribution in Kartik.

    The government imposes a tax on the profits derived from buying and selling shares in the secondary market, with individual investors subjected to a 7.5% tax rate and long-term transactions enjoying a reduced rate of 5%. This substantial increase in capital gains tax indicates a vibrant and robust performance in the stock market, with short-term investors taking the lead in contributing to the government’s revenue.