Hulas Finserv Reports 84.45% Surge in Net Profit to Rs. 398.72 Million
Summary
Hulas Finserv Hire Purchase Limited reported an 84.45% jump in net profit to Rs. 398.72 million in Fiscal Year 2082/83, driven by strong loan growth, better asset quality and higher interest income. Its automobile financing portfolio expanded sharply while the NPL ratio fell to 1.87%.
Key Points
- Net profit rose 84.45% to Rs. 398.72 million in Fiscal Year 2082/83, up from Rs. 216.17 million a year earlier.
- The company’s loan portfolio grew 52.25% to Rs. 12.22 billion, led mainly by automobile financing.
- The NPL ratio improved from 3.40% to 1.87%, while net interest income more than doubled to Rs. 484.65 million.
- Hulas Finserv said it will focus on sustainable growth, asset quality, recovery and portfolio diversification.
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