Tag: Time

  • 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.

  • 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.

  • 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.

  • 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.

  • “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”

    “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”


     

    Ingwa Hydropower Limited has announced the closure of its IPO issuance of 12,68,639 unit shares with a face value of Rs. 100 per share. The issue, which opened on April 13, 2080, is oversubscribed by 8.64 times, with 994,624 applicants applying for a total of 10,964,750 units. The company intends to collect Rs. 12.68 crore from this IPO, with 70% of the shares belonging to promoter shareholders.

    Before this issuance, the company had allotted 306,840 units of its 6,00,000 unit shares worth Rs. 6 crores to project-affected locals in Taplejung District, with the remaining 293,160 units added to the 12,00,000 units reserved for the general public. Out of the total 14,93,160 units available to the general public, 120,000 units have already been allotted to Nepalese citizens working abroad, while 5% and 2% have been set aside for mutual funds and employees of the company, respectively. The remaining 12,68,639 units are for the general public, with a minimum application of 10 units and a maximum of 20,000 units.

    The IPO issuance is managed by Sunrise Capital Limited, while CARE Ratings Nepal Limited has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Ingwa Hydropower Limited, indicating a moderate risk of default regarding timely servicing of financial obligations in Nepal. The company was incorporated on June 23, 2009, as a private limited company and was later converted into a public limited company on August 25, 2014. The company’s institutional promoters and individual businessmen in Nepal have promoted it to set up a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project under the BOOT mechanism in the Panchthar district of Nepal.

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  • “Ankhukhola Hydropower Sales Revenue Drops by 11.09% to Rs. 15.4 Crores, Net Worth Per Share Falls Below Par Value at Rs. 71.25”

    “Ankhukhola Hydropower Sales Revenue Drops by 11.09% to Rs. 15.4 Crores, Net Worth Per Share Falls Below Par Value at Rs. 71.25”


     

    Ankhukhola Hydropower Company Limited (AKJCL) has released their Q3 financial report for the FY 2079/80, revealing a significant decrease of 71.59% in net profit compared to the same quarter in the previous year, with the current net profit standing at Rs. 86.52 Lakhs. Total revenue up to the third quarter of FY 2079/079 has also decreased by 11.09% to Rs. 15.4 crores. However, AKJCL will receive a grant of Rs. 4.62 crore from the Nepalese government for the installation of Ankhu Khola-1, which has not yet been included in their revenue. Additionally, the company has signed an agreement to invest 60% in Ganesh Himal Hydropower’s 20 M.W. Ankhu Khola-2 Hydropower project. The administrative and general expenses have increased by 18.37%, while the finance expenses have decreased by 7.26%. The paid-up capital of the company stands at Rs. 80 crore with a negative reserve of Rs. 23 crore in reserve fund, and the company reported an annualized EPS of Rs. 1.44 and net worth per share of Rs. 71.25.

  • SEBON Approves Upper Syange Hydropower IPO Proposal

    SEBON Approves Upper Syange Hydropower IPO Proposal


     

    The Securities Exchange Board of Nepal (SEBON) has authorized Upper Syange Hydropower Limited’s proposed initial public offering (IPO) on Baisakh 13, 2080.

    The corporation will now issue 870,000 equity shares at NPR 100 per share. The issuance is worth Rs. 8.7 crore. This is equivalent to 39.55% of the company’s issued capital. The company’s total paid-up capital following the IPO allotment will be Rs 22 crores.

     

  • Supermai Hydropower earns a profit of Rs. 4.825 crores in the third quarter.

    Supermai Hydropower earns a profit of Rs. 4.825 crores in the third quarter.


     

    Supermai Hydropower Limited (SMH) reported a 41.20% decrease in net profit in the third quarter (Q3) of the current fiscal year 2079/80. Profit declined to Rs. 4.835 crores in this quarter from Rs. 8.22 crores in the previous year’s equivalent quarter.

     

  • Support Laghubitta’s Q3: Net Profit decreased by 42.33% to Rs 63.32 Lakhs, NPL decreased by 3.25%, and EPS decreased by 8.86%.

    Support Laghubitta’s Q3: Net Profit decreased by 42.33% to Rs 63.32 Lakhs, NPL decreased by 3.25%, and EPS decreased by 8.86%.


    Support Laghubitta Bittiya Sanstha Limited (SMB) has issued its unaudited financial report for Q3 of FY 2078/79, with a net profit of Rs 63.32 Lakhs, a decrease of 42.88%. Microfinance had a net profit of Rs 1.75 crore in the prior year’s similar quarter.

    It has received Rs 28.78 Crore in deposits, Rs 98.04 Crore in borrowings, and Rs 1.39 Arba in loans. The company’s paid-up capital is Rs 9.52 crore, and it has a reserve of Rs 3.65 crore.

    Net interest income was Rs 4.52 crore in the third quarter, down from Rs 5.42 crore in the previous year’s equivalent quarter. Operating earnings fall 65.7% to Rs 60.35 Lakhs.

  • SEBON has finally approved Nepal Republic Media’s IPO proposal.

    SEBON has finally approved Nepal Republic Media’s IPO proposal.


    The Securities Exchange Board of Nepal (SEBON) has authorized Nepal Republic Media Limited’s proposed initial public offering (IPO) on Baisakh 11.

    The corporation will now issue 4,353,000 equity shares at NPR 100 per share. The issuance is worth Rs. 43.53 crore. This represents 44.99% of the outstanding capital of the corporation. The company’s total paid-up capital following the IPO allotment will be Rs 96.75 crores.

    Mega Capital Markets Limited has been designated as the planned IPO’s issue manager.

    Nepal Republic Media Pvt. Ltd., the publisher of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, is the first media company to become public.