Out of 17 finance companies operating in Nepal, five companies suffered losses while 12 companies made profit in the first month of the current fiscal year. This was revealed in the data for the month of Shrawn (mid-July to mid-August) published by the Nepal Rastra Bank.
Among the profitable finance companies, Progressive Finance earned the highest profit. This company earned profit of Rs 88.3 million in the review month. Second in the list of finance companies earning the highest profit is ICP Finance. The company during the review period earned a profit of Rs 28.5 million.
During the review month, Central Finance earned Rs 17.1 million in profit, Manjushree Finance Rs 14.5 million, Goodwill Finance Rs 13 million and Reliance Finance Rs 12.8 million.
Similarly, Gorkhaz Finance earned Rs 9.8 million in profit, Shree Investment and Finance Rs 6.5 million, Multipurpose Finance Rs 6.4 million and Nepal Finance Company earned a profit of Rs 1.5 million.
Samriddhi Finance sustained the highest loss among finance companies in the review month. This company incurred loss of Rs 86.9 million in this period. Similarly, Pokhara Finance sustained loss of Rs 2.6 million, Best Finance Rs 1.2 million, Capital Merchants and Nepal Stock Market suffered losses of Rs 800, 000 each.
