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  • Manakamana Smart Laghubitta Bittiya Sanstha Limited Reports Significant Decline in Net Profit for Q3 2079/2080

    Manakamana Smart Laghubitta Bittiya Sanstha Limited Reports Significant Decline in Net Profit for Q3 2079/2080


    Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) has published its third-quarter report for the fiscal year 2079/2080, which shows a significant decline in net profit by 108.05% compared to the same quarter in the previous year. The net profit dropped to a negative of Rs. 42.52 lakhs from Rs. 5.28 crores.

    The company’s borrowings decreased by 29.92% to Rs. 37.6 crores, and deposits increased by 17.57% to Rs. 4.69 crores. Loans and advances also decreased by 13.91% to Rs. 93.49 crores during this quarter.

    MKLB’s net interest income (core revenue) decreased by 25.73% to Rs. 4.15 crores compared to Rs. 5.59 crores in the corresponding quarter of the previous year. The company’s paid-up capital stood at Rs. 14.17 crores, and its reserve and surplus stood at Rs. 1.87 crores, showing a decrease of 41.98% in this quarter.

    The cost of funds slightly increased to 9.83% from 8.08% in the corresponding quarter, and the non-performing loans increased to 4.91%. The annualized earnings per share (EPS) for MKLB stand at Rs. -4, while the net worth per share is Rs. 113.2.

    In summary, MKLB’s third-quarter report showed a massive decline in net profit, a decrease in borrowings, an increase in deposits, and a decrease in loans and advances. Additionally, the company’s net interest income, reserve and surplus, and earnings per share have decreased, while the cost of funds and non-performing loans have slightly increased.

  • Nepal Chamber Expo 2023 to Feature Over 150 Stalls of National and International Manufacturers

    Nepal Chamber Expo 2023 to Feature Over 150 Stalls of National and International Manufacturers


    The Nepal Chamber of Commerce has announced that it will be hosting the Nepal Chamber Expo 2023 from Jestha 4 to 8, 2080 at Bhrikutimandap, Kathmandu. Over 150 stalls featuring a wide range of national and international manufacturers will be present at the event. Exhibits will include items such as automobiles, electrical and electronics, home appliances, fashion wear and accessories, garments and textiles, mobile and gadgets, fast-moving consumer goods, hydro, logistics, handicrafts and handlooms, shoes and leather items, cosmetics, and food and dairy products. These details were disclosed in a media statement.

  • Nepalese Stock Exchange (NEPSE) index experiences decline in trading with all sector indices closing red

    Nepalese Stock Exchange (NEPSE) index experiences decline in trading with all sector indices closing red


    The Nepalese Stock Exchange (NEPSE) experienced a decline today, with the index closing at 1,850.61, a decrease of 1.02% or 19.12 points from the previous trading day’s closing. The index had gained 12.73 points yesterday but suffered a loss today. The trading day opened at 1,870.41, and the intraday high was 1,872.22, while the intraday low was 1,848.80, closing at 1,850.61.

    During today’s trading, a total of 263 scrips were traded via 23,051 transactions, with 2,015,959 shares exchanged for a turnover of Rs. 60.81 crores. This was lower than the previous day’s turnover of Rs. 73.26 crores. Shivam Cements Ltd (SHIVM) had the most shares traded and the highest turnover of Rs. 3.22 crores, with a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) had the highest gain of 8.22% for the day, while NMB Debenture 8.50% – 2087/88 (NMBD87/88) suffered the highest loss of 8.83% for the day.

    All sector indices experienced a decline, with “Hydropower” experiencing the highest loss of 2.04%, while “Mutual Fund” had the least decline of 0.05%. Overall, the NEPSE index had a relatively tough trading day, with a decline in the index and the majority of the sector indices experiencing losses.

  • NEPSE index gains 0.69% with all sector indices closing green

    NEPSE index gains 0.69% with all sector indices closing green


    The Nepal Stock Exchange (NEPSE) index gained 12.73 points today, closing at 1,869.73, which is a 0.69% increase from the last trading day. The index had a low of 1,846.67 and a high of 1,875.26 during the day, opening at 1,856.97. The trading volume was 276 scrips traded via 20,655 transactions, with a total of 2,533,714 shares exchanged, amounting to Rs. 73.26 Crores in turnover, higher than the previous day’s turnover of Rs. 62.02 Crores.

    NABIL Bank Limited Promotor Share (NABILP) was the most traded stock and had the highest turnover of Rs. 4.5 crores, closing at a market price of Rs. 474 per share. NIBL Growth Fund (NIBLGF) gained the highest 9.86% for the day, while NMB Debenture 8.50% – 2087/88 (NMBD87/88) lost the highest 5.85%.

    All sector indices closed in the green, with “Non-Life Insurance” gaining the highest 1.55%, and “Investment” gaining the least 0.32% today.

  • 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.

  • 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.

  • 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.

  • “RULB Proposes 15% Dividend and 14.25% Bonus Shares for FY 2078/79, Pending Approval from Nepal Rastra Bank”

    “RULB Proposes 15% Dividend and 14.25% Bonus Shares for FY 2078/79, Pending Approval from Nepal Rastra Bank”


    Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) has proposed a 15% dividend worth Rs. 3.9 Crores for the fiscal year 2078/79. This marks the company’s first dividend after being listed in NEPSE. The board of directors decided in its 86th meeting on Baisakh 13 to distribute 14.25% bonus shares and 0.75% cash dividend (including the amount for tax purposes) from the paid-up capital of Rs. 26 Crores. The bonus shares are valued at Rs. 3.7 crores, and the cash dividend is worth Rs. 19.50 lakhs. However, the dividend will only be distributed after receiving approval from Nepal Rastra Bank and endorsement by the upcoming AGM. RULB’s last-day close stands at Rs. 622.80 at the time of writing.

  • Allotment of 12 Crore Units of Siddhartha Investment Growth Scheme 3 Concludes; Only 67.15% Units Subscribed

    Allotment of 12 Crore Units of Siddhartha Investment Growth Scheme 3 Concludes; Only 67.15% Units Subscribed


    Siddhartha Capital Limited recently concluded the issuance of its closed-end mutual fund scheme, “Siddhartha Investment Growth Scheme 3”. The issue consisted of 12 crore unit shares with a par value of Rs. 10 per unit. The fund promoter, Siddhartha Bank Limited, was allocated 10% (1.2 crore units) of the shares, while the fund manager, Siddhartha Capital, was allocated 5% (60 lakh units). The remaining 10.20 crore units were issued to the general public. The scheme, which has a maturity period of 10 years, is the sixth mutual fund scheme offered by Siddhartha Capital. On Baisakh 17, 80,580,000 units were allotted to valid applicants, resulting in a total scheme size of Rs. 80.58 Crores.

  • “Nepalese Stock Market Witnesses a Slight Decline with ANLB Leading Gains and SGHC Facing Losses”

    “Nepalese Stock Market Witnesses a Slight Decline with ANLB Leading Gains and SGHC Facing Losses”


    Today, the Nepalese stock market index, NEPSE, experienced a decline of 0.23% and closed at 1,866.40, which is 4.27 points lower than the previous day’s close. During the trading day, the index reached a high of 1,878.96 and a low of 1,860.43 after opening at 1,871.63. The total turnover for the day was Rs. 69.22 Crores, lower than the previous day’s turnover of Rs. 95.43 Crores, with 271 stocks traded through 21,649 transactions.

    Himalayan Distillery Limited (HDL) had the highest turnover of Rs. 2.44 crores with a market price of Rs. 1,900 per share, while the most traded shares belonged to NICBF. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained 8.20% during the day, while Swet-Ganga Hydropower & Construction Limited (SGHC) lost the highest percentage of 4.70%. Among the six sector indices, “Trading” experienced the highest decline of 1.53%, whereas “Mutual Fund” gained 0.54%.