Kathmandu. In the last financial year 2082-83, there has been a significant improvement in the profit of finance companies. In the review period, the finance companies earned a net profit of Rs 1.64 billion. This is an increase of about 145 percent compared to the previous fiscal year.

In the previous fiscal year 208182, the finance companies had earned a net profit of Rs 67.04 crore. The significant increase in profit reflects the improvement in the financial condition of the overall finance sector.

During the review period, the profit of most of the finance companies increased while the profit of four companies decreased. Net profit of Reliance Finance, Progressive Finance, Shree Investment Finance and ICFC Finance declined compared to the previous year.

Similarly, the profit of Nepal Finance has been negative in the last fiscal year. Other finance companies have been able to increase their profit compared to the previous financial year.

Among the finance companies, Manjushree Finance is ahead in terms of profit growth. The profit of the rest of the companies has varied from company to company.