Microfinance companies profits has decreased, Find the Financial Reports of FY 2079/080

Nov Sat 2023 08:20:47

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Microfinance companies profits has decreased, Find the Financial Reports of FY 2079/080

Kathmandu. Due to the increase in bad loans, the profits of most microfinance companies have declined. According to the details up to the first quarter of the current financial year published by microfinance, the profits of 18 companies are negative. In the period up to the end of October, 18 companies made losses while the profits of 21 companies decreased. During this period, only 14 companies saw an improvement in their profits.

During the review period, the profit of microfinance companies decreased by 14.56 percent to 1 billion 20 million 32 million 22 thousand rupees. During the same period of the last financial year, the profit of the company was 1 billion 40 million 83 lakh 70 thousand rupees.

According to the details till the end of October, the most profit is from small farmers microfinance. During this period, the profit of the company is 300 million 14 million 8 thousand rupees. Which is the highest profit among the 53 companies that have published reports so far. The profit of small farmers increased by 29.48 percent. In the same period of the last financial year, the profit of the company was 23 crore 27 lakh 79 thousand rupees.

Even though the profit has decreased, the neighborhood microfinance is the second most profitable company. The profit of the company decreased by 32.8 percent to 221 million 160 thousand rupees. It seems that the profits of microfinances with high price list in the stock market have decreased.

On the other hand, the profit of Jeevan Bikash Microfinance has also decreased by 21.36 points. Although there is a double-digit decline in the company's profit, Jeevan Bikash is at the third number in the list of microfinance with the highest profit.

During the review period, the profit of Diprox Microfinance decreased by 10.96 percent to 88.2 million 65 thousand rupees. During the same period of the last financial year, the profit of the company was 99.1 million 30 thousand rupees. Similarly, there is a competition between National Microfinance and First Microfinance in terms of profit. Profits of both companies have decreased. National has decreased by 46.2 percent to 50 million 63 thousand rupees and First Microfinance has decreased by 20.52 percent to 5 million 6 million 63 thousand rupees.

Nadep Lagufitta is among the least profitable microfinance. The profit of the company is only 5 lakh 10 thousand rupees. Which is 95.83 percent less than last financial year. Nadep is the first among the companies with the highest decrease in profit. During the same period of the last financial year, the profit of the company was 1 crore 22 lakh 46 thousand rupees.

Support microfinance is among the companies that increase the most profit. The profit of the company increased by 259.1 percent to 15 lakh 98 thousand rupees. During the same period of the last financial year, the profit of the company was 445,000 rupees.

In the three months of the current financial year, the profits of 18 companies have been negative. The report published by 53 companies shows that 18 companies are in profit loss. The most negative company in the period up to mid-October is Nirdhan Utthan Lagufitta. During this period, the company has a loss of 143 million 10 thousand rupees.

Similarly, in the companies that are negative, Forward Microfinance is Rs 11 crore 9 lakh 85 thousand, My Microfinance is Rs 6 crore 25 lakh 47 thousand, NMB Microfinance is Rs 4 crore 73 lakh 41 thousand, Kisan Microfinance is Rs 4 crore 21 lakh 19 thousand.