Tag: spike

  • USHEC Achieves 47.90% Q2 Net Profit Surge and Robust Revenue Growth

    USHEC Achieves 47.90% Q2 Net Profit Surge and Robust Revenue Growth


    Upper Solu Hydro Electric Company Limited (USHEC) has reported a remarkable surge in net profit, demonstrating a substantial 47.90% increase during the second quarter (Q2) of the fiscal year 2080/81. The company’s profits escalated from Rs. 5.67 crores in the corresponding quarter of the previous year to an impressive Rs. 8.39 crores in the current quarter. This outstanding financial performance is attributed to the notable growth in revenue from power sales, reaching Rs. 42.88 crores for the quarter, marking a 4.94% uptick compared to the same period in the preceding year. The surge in profits underscores the company’s effective management and robust position in the hydroelectric sector, positioning USHEC as a key player in the industry’s growth and sustainability.

     

  • IME Life Insurance (ILI) Achieves Remarkable 96.14% Surge in Q2 Net Profit

    IME Life Insurance (ILI) Achieves Remarkable 96.14% Surge in Q2 Net Profit


    IME Life Insurance Company Limited (ILI) has reported impressive financial results for the second quarter of the fiscal year 2080/2081, showcasing a significant 96.14% surge in net profit. The net profit rose from Rs. 11.96 crores to Rs. 23.47 crores compared to the same quarter last year.

    ILI’s financial overview reveals a strong foundation with a paid-up capital of Rs. 4 Arba and a share premium of Rs. 1.53 Arba. The company also holds substantial amounts in retained earnings (Rs. 85.02 crores), other equity (Rs. 55.36 crores), and catastrophe reserves (Rs. 15.35 crores).

    In terms of operational performance, IME Life demonstrated an 11.20% increase in net premiums, reaching Rs. 1.99 Arba in the second quarter of FY 2080/81 compared to the previous year. The company showcased financial acumen by generating Rs. 63.92 crores from income derived from investments, loans, and other financial activities. However, the quarter also witnessed a 21.88% increase in net claims, reaching Rs. 1.87 Arba.

    Key financial indicators underscore the company’s robust performance, including an annualized earnings per share (EPS) of Rs. 11.74, net worth per share of Rs. 177.27, and a price-to-earnings (P/E) ratio of 47.29 times, indicating a positive outlook for investors. The Q2 report provides a comprehensive overview of ILI’s financial health and operational highlights.

  • Machhapuchchhre Bank Q2 2080/81: 21.45% Drop in Net Profit, Attention Needed on NPL Increase

    Machhapuchchhre Bank Q2 2080/81: 21.45% Drop in Net Profit, Attention Needed on NPL Increase


    Machhapuchchhre Bank Limited (MBL) has recently unveiled its financial performance for the second quarter of the fiscal year 2080/81, providing insights into key metrics. In this quarter, MBL witnessed a notable 21.45% decline in net profit, falling from Rs. 1.02 Arba in Q2 FY 2079/80 to Rs. 80.53 Crores in Q2 FY 2080/81.

    The bank faced a 1.10% reduction in customer deposits, reaching Rs. 1.52 Kharba. However, loans and advances to customers experienced growth, rising by 2.99% to Rs. 1.29 Kharba compared to the previous year. The Net Interest Income, a critical indicator of core business income, decreased by 5.56% to Rs. 2.63 Arba. Encouragingly, impairment charges witnessed a decline of 21.57%.

    MBL’s paid-up capital stands at Rs. 11.62 Arba, complemented by Rs. 5.44 Arba in reserves and surplus. Nonetheless, Non-Performing Loans (NPL) increased to 2.26%, marking an 85.82% surge from the same quarter in the previous year.

    On a per-share basis, the annualized earnings per share (EPS) amounted to Rs. 13.86, and the Net worth per share was Rs. 144.97. The company traded at a Price/Earnings (P/E) multiple of 14.65 times. The rise in NPL is highlighted as an area requiring ongoing attention.

    For detailed figures and comparisons, refer to the complete Q2 report provided in the disclosure.

  • “LBB L’s Q4 Net Profit Dips, Impairment Charges Soar”

    “LBB L’s Q4 Net Profit Dips, Impairment Charges Soar”


     

    Lumbini Bikas Bank Limited (LBBL) has released its fourth-quarter report for the recently ended financial year, showing a slight decrease in net profit by 3.88 percent compared to the same period in the previous year. In Q4 of FY 079-80, the company made a profit of Rs. 61.24 crores.

    The most significant change in the report is the substantial increase in impairment charges for the company during the last quarter of FY 079-80, reaching Rs. 40.31 crores. This is in contrast to the Rs. 3.40 crores impairment charges incurred by the bank during the same quarter of FY 078-079.

     

  • “Gold Prices Spike by Rs. 800 Per Tola, Silver Rate Unmentioned”

    “Gold Prices Spike by Rs. 800 Per Tola, Silver Rate Unmentioned”


     

    Gold prices in the Nepalese market are soaring, reaching near an all-time high. According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is now being traded at Rs. 113,500 per tola, experiencing an astonishing rise of Rs. 800 in just one day from yesterday’s rate. This surge follows a significant increase of Rs. 500 per tola on Wednesday.