Kathmandu. Hulas Finserv Hire Purchase Limited (HFL) has achieved remarkable financial progress in the financial year 2082÷83. During this period, the company earned Rs. The company earned a net profit of Rs 39.87 crore as against Rs 39.87 crore in the corresponding period of the previous FY. This is an increase of 84.45 percent compared to 216.17 million. According to the company, this achievement further solidifies Insta Finance in the leading position in the field of finance in Nepal.

The company’s credit portfolio has also expanded significantly during the financial year. The total loan portfolio of the company increased by 52.25 percent to Rs. 12.22 billion, of which automobile financing has contributed significantly, according to the company. Similarly, non-performing loan (NPL) ratio decreased to 1.87 percent from 3.40 percent, reflecting effective risk management and recovery system of the company.

The overall financial position of the company has also been further strengthened. Total Assets Rs. From Rs. 8.43 billion. The total capital (equity) has reached Rs. 12.64 billion. From Rs. 1.49 billion to Rs. 1.89 billion. During this period, the net interest income was Rs. From Rs. 22.10 crore, Rs. It has reached 48 crore 46 lakh 50 thousand, which is more than double the previous year. Similarly, operating profit is also Rs. From Rs. 33.52 crore 80,000. It has reached 61 crore 46 lakh 80 thousand.

The company also reported significant improvement in key financial indicators. The annualized capital return increased to 21.12 percent from 14.52 percent, while the annualized basic earnings per share increased from 26.04 percent to Rs. 48.04. In addition, the cost of funds of the company decreased from 6.40 percent to 5.77 percent. The interest rate differential has increased from 1.98 percent to 3.39 percent, while the coverage of loan loss management has increased to 92.34 percent.

According to a representative of Hulas Finserv, despite the slowdown in credit to the private sector and the ongoing challenges related to asset quality in Nepal’s financial sector, the company has been able to achieve remarkable financial results due to business expansion, operational efficiency, strong risk management, and effective debt recovery strategy.

The company will continue its strategy to further strengthen asset quality, streamline its recovery system and diversify its investment portfolio by expanding its loan portfolio in a sustainable manner in the coming days. The company also pledged to move forward keeping the welfare of all its stakeholders and value addition at the center in the long term.