
हुलास फिनसर्भ हायर पर्चेजको पहिलो त्रैमासिक वित्तीय विवरणHulas Finserv Hire Purchase Q1 Financial Results (2083/84)
- वर्ग:Category:
- Financial Analysis
- प्रकाशित मिति:Published:
- Published on November 5, 2026
Hulas Finserv Hire Purchase Limited
(Previously known as Hulas Fin Serve Ltd.)
Tripureswor, Kathmandu
UNAUDITED FINANCIAL RESULTS
First Quarter of FY 2083/84 (2026/27)
प्रकाशित मिति: २०८३/०७/१९
Statement of Financial Position
As on First Quarter End (17th Oct 2026) of the Fiscal Year 2083/84 (2026/27)
Fig in NPR
| Assets | This Quarter Ending | Immediate Previous Year Ending |
|---|---|---|
| Cash and cash equivalent | 88,065,269 | 103,808,944 |
| Other trading assets | - | - |
| Loans and Advances to B/FIs | - | - |
| Loans and Advances to customers | 14,767,256,286 | 12,211,800,987 |
| Investment Securities | - | - |
| Current Tax Assets | - | 21,034,850 |
| Investment property | - | - |
| Property and equipment | 209,463,105 | 212,181,404 |
| Goodwill and Intangible assets | 4,665,687 | 5,143,366 |
| Deferred tax assets | 4,689,490 | 4,380,080 |
| Other assets | 142,214,782 | 75,729,851 |
| Total Assets | 15,216,354,618 | 12,634,079,483 |
| Borrowings | 10,744,216,595 | 9,279,878,523 |
| Current Tax Liabilities | 4,055,039 | - |
| Employee benefit liabilities | 16,090,249 | 16,276,575 |
| Deferred tax liabilities | - | - |
| Other liabilities | 2,425,245,259 | 1,458,846,499 |
| Total Liabilities | 13,189,607,143 | 10,755,001,597 |
| Share capital | 830,000,000 | 830,000,000 |
| Share premium | - | - |
| Retained earning | 885,099,797 | 766,964,126 |
| General Reserves | 311,647,678 | 282,113,760 |
| Total Equity attributable to equity holders | 2,026,747,475 | 1,879,077,886 |
| Non-controlling interests | - | - |
| Total Equity | 2,026,747,475 | 1,879,077,886 |
| Total Liabilities and Equity | 15,216,354,618 | 12,634,079,483 |
Statement of Profit or Loss
For the First Quarter Ended 17th Oct 2026 of the Fiscal Year 2083/84 (2026/27)
Fig in NPR
This Quarter Up to This Quarter (YTD) This Quarter Up to This Quarter (YTD)
Current Year Current Year Previous Year Previous Year
| Interest Income | 298,982,015 | 298,982,015 | 195,610,869 | 195,610,869 |
| Interest Expenses | 131,537,786 | 131,537,786 | 103,383,376 | 103,383,376 |
| Net Interest Income | 167,444,230 | 167,444,230 | 92,227,493 | 92,227,493 |
| Fee and Commission Income | 191,848,116 | 191,848,116 | 161,305,459 | 161,305,459 |
| Fee and Commission Expense | - | - | - | - |
| Net Fee and Commission Income | 191,848,116 | 191,848,116 | 161,305,459 | 161,305,459 |
| Net Interest and Commission Income | 359,292,346 | 359,292,346 | 253,532,952 | 253,532,952 |
| Net Trading Income | - | - | - | - |
| Other Operating Income | - | - | - | - |
| Total Operating Income | 359,292,346 | 359,292,346 | 253,532,952 | 253,532,952 |
| Impairment Charge/(Reversal) for Loans and Other Losses | 11,087,604 | 11,087,604 | 52,862,930 | 52,862,930 |
| Net Operating Income | 348,204,742 | 348,204,742 | 200,670,022 | 200,670,022 |
| Operating Expenses | ||||
| Personnel Expenses | 71,931,866 | 71,931,866 | 56,604,678 | 56,604,678 |
| Other Operating Expenses | 51,958,259 | 51,958,259 | 31,947,314 | 31,947,314 |
| Depreciation and Amortization | 10,332,339 | 10,332,339 | 5,340,639 | 5,340,639 |
| Total Operating Expenses | 134,222,464 | 134,222,464 | 93,892,631 | 93,892,631 |
| Operating Profit | 213,982,278 | 213,982,278 | 106,777,391 | 106,777,391 |
| Non-operating Income | 666,076 | 666,076 | 221,354 | 221,354 |
| Non-operating Expense | 3,691,797 | 3,691,797 | 724,602 | 724,602 |
| Profit Before Income Tax | 210,956,556 | 210,956,556 | 106,274,143 | 106,274,143 |
| Income Tax Expenses | 63,286,967 | 63,286,967 | 47,825,952 | 47,825,952 |
| Current Tax | 63,596,376 | 63,596,376 | 47,942,635 | 47,942,635 |
| Deferred Tax | (309,409) | (309,409) | (116,683) | (116,683) |
| Profit for the Year | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
| Other Comprehensive Income, Net of Income Tax | - | - | - | - |
| Total Comprehensive Income for the Period | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
| Profit Attributable To: | ||||
| Equity Holders | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
| Non-controlling Interests | - | - | - | - |
| Profit for the Year | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
Statement of Distributable Profit or Loss
For the First Quarter Ended 17th Oct 2026
Fig in NPR
Current Year YTD Previous Year Corresponding YTD
| Operating Restated Retaining Earnings | 766,964,126 | 455,087,679 |
| Net Profit/(loss) as per statement of profit or loss | 147,669,589 | 58,448,191 |
| Appropriations: | ||
| a. General reserve | (29,533,918) | (11,689,638) |
| b. Foreign Exchange Fluctuation Fund | - | - |
| c. Capital Redemption reserve | - | - |
| d. Corporate Social Responsibility Fund | - | - |
| e. Employee Training Fund | - | - |
| f. Bonus share Issued | - | - |
| g. Cash Dividend paid | - | - |
| h. Others | - | - |
| Profit or (Loss) Before Regulatory Adjustment | 885,099,797 | 501,846,232 |
| Regulatory Adjustment: | ||
| a. Interest receivables (-)/previous accrued interest received (+) | - | - |
| b. Short loan loss provision in accounts (-)/reversal(+) | - | - |
| c. Short provision for possible losses om investment (-)/Reversal(+) | - | - |
| d. Short loan loss provision on Non-Banking Assets (-)/Reversal(+) | - | - |
| e. Deferred tax assets recognized (-)/reversal(+) | - | - |
| f. Goodwill recognized (-)/Impairment of Goodwill (+) | - | - |
| g. Bargain purchase gain recognized (-)/reversal (+) | - | - |
| h. Actuarial loss recognized (-)/Reversal (+) | - | - |
| i. Others (+/-) | - | - |
Distributable Profit or (Loss) as at 17th Oct, 2026) 885,099,797 501,846,232
Key Financial Indicators Current YearYTD Previous Year Corresponding YTD
| Basic EPS (Annualized) | 71.17 | 28.17 |
| Diluted EPS (Annualized) | 71.17 | 28.17 |
Return on Equity (Annualized) 29.14% 15.11%
Net Worth per Share 244.19 186.47
Non-Performing Loan 1.90% 3.46%
Cost of Fund 5.16% 6.12%
Interest Rate Spread 3.63% 2.42%
Gearing Ratio (Borrowings / Equity) 5.30 4.66
Provision Coverage Ratio (Loan Loss Provision / NPL) 81.61% 76.11%
1.5 Basis of Preparation and Notes
1. These unaudited financial statements have been prepared in accordance with Nepal Financial Reporting Standards (NFRS) and the section 10.8 of directives governing hire purchase lending companies issued by Nepal Rastra Bank (NRB).
2. Loan loss provisions have been recognized at the higher of the provisioning requirement prescribed by Nepal Rastra Bank (NRB/Company Internal Policy) and the Expected Credit Loss (ECL) requirement under NFRS 9.
3. Previous period figures have been regrouped, rearranged, or restated wherever necessary for the purpose of comparability.
4. These figures are unaudited and are subject to change based on the review of the Company's statutory auditor and/or directions of the Regulator.
5. This publication is made pursuant to the applicable Nepal Rastra Bank and Securities Board of Nepal disclosure requirements for licensed hire purchase lending companies.
2. Management Analysis
Operating Environment
Nepal's economy witnessed gradual recovery during Q1 FY 2083/84, while private sector credit growth remained moderate at 7.3% year-on-year as of mid-September 2026 (Nepal Rastra Bank) while the Company achieved a loan portfolio growth of 48.65% compared to same quarter of previous year and profit growth of 152.65%, significantly outperforming the overall market. Meanwhile, Nepal's banking sector continued to face asset quality pressures during Q1 FY 2083/84, with non-performing loans remaining elevated amid rising credit risks (Nepal Rastra Bank). In contrast, the Company's non-performing loan ratio improved from 3.46% to 1.90% during the same period, demonstrating strong credit risk management and effective recovery performance.
Company Performance
During the first quarter of FY 2083/84, the Company delivered strong financial performance, reflecting continued business growth and operational resilience. The operating environment during the quarter was characterized by improving credit demand, ample liquidity in the financial system and a competitive lending market. While increased economic activity and seasonal demand supported credit expansion, the Company remained focused on prudent credit assessment, effective portfolio monitoring and proactive recovery management, ensuring that business growth remained aligned with asset quality objectives and sustainable risk management practices. The loan portfolio registered significant growth of 48.65% compared to the corresponding quarter of the previous fiscal year, primarily driven by expansion in the automobile financing segment. Profit increased by 152.65%, reflecting business expansion and improved operational performance. Notably, this growth was accompanied by an improvement in asset quality, with non-performing loans declining from 3.46% to 1.90%. Furthermore, the Company's balance sheet remained conservatively funded, with gearing of approximately 5.30 times equity, comfortably within the regulatory borrowing ceiling of 10 times net worth.
The Company remains committed to strengthening asset quality, enhancing recovery mechanisms and maintaining a balanced and diversified portfolio. Going forward, the focus will remain on achieving sustainable growth through prudent risk management, operational efficiency and continued efforts to safeguard long-term stakeholder value.
Analysis of Interim Financial Statements
The Company reported a profit of NPR 147.66 million, a growth of 152.65%, and the overall loan portfolio stands at NPR 14,767.25 million, a growth of 48.65% in business size as compared to the corresponding previous period. This strong business growth and focused recovery effort has also improved asset quality, with non-performing loans decreasing from 3.46% to 1.90% even as the overall loan portfolio expanded significantly.
3. Details of Legal Proceedings
No information regarding any lawsuit by or against the Company has been filed during the period under review, except the regular cases of debt recovery.
4. Corporate Governance
The Company is committed to maintaining a high level of ethical standards, corporate governance, and compliance. The Board of Directors and management strictly comply with the regulatory norms issued by Nepal Rastra Bank (NRB) and other regulatory authorities. Further, the Company adheres to all regulatory and legal requirements and industry best practices.
नोट: कम्पनी ऐन, २०६३ को दफा ८४ तथा नेपाल राष्ट्र बैंकको हायर पर्चेज कर्जा दिने कम्पनीलाई स्वीकृति दिने नीतिगत एवम् प्रक्रियागत व्यवस्था, २०७० (छैटौं संशोधन, २०८३) को नियम नं. १०.८ को प्रयोजनार्थ यस हायर पर्चेज कर्जा दिने कम्पनी हुलास फिनसर्भ हायर पर्चेज लिमिटेड (साविक हुलास फिन सर्व लि.) को आ.व. ०८३/०८४ को प्रथम त्रैमासिक संक्षिप्त आर्थिक विवरण प्रकाशन गरिएको व्यहोरा सम्बन्धित सबैको जानकारीको लागि सूचित गरिन्छ ।
Hulas Finserv Hire Purchase Limited
(Previously known as Hulas Fin Serve Ltd.)
Tripureswor, Kathmandu
UNAUDITED FINANCIAL RESULTS
First Quarter of FY 2083/84 (2026/27)
Publication Date: 2083/07/19
Statement of Financial Position
As on First Quarter End (17th Oct 2026) of the Fiscal Year 2083/84 (2026/27)
Fig in NPR
| Assets | This Quarter Ending | Immediate Previous Year Ending |
|---|---|---|
| Cash and cash equivalent | 88,065,269 | 103,808,944 |
| Other trading assets | - | - |
| Loans and Advances to B/FIs | - | - |
| Loans and Advances to customers | 14,767,256,286 | 12,211,800,987 |
| Investment Securities | - | - |
| Current Tax Assets | - | 21,034,850 |
| Investment property | - | - |
| Property and equipment | 209,463,105 | 212,181,404 |
| Goodwill and Intangible assets | 4,665,687 | 5,143,366 |
| Deferred tax assets | 4,689,490 | 4,380,080 |
| Other assets | 142,214,782 | 75,729,851 |
| Total Assets | 15,216,354,618 | 12,634,079,483 |
| Borrowings | 10,744,216,595 | 9,279,878,523 |
| Current Tax Liabilities | 4,055,039 | - |
| Employee benefit liabilities | 16,090,249 | 16,276,575 |
| Deferred tax liabilities | - | - |
| Other liabilities | 2,425,245,259 | 1,458,846,499 |
| Total Liabilities | 13,189,607,143 | 10,755,001,597 |
| Share capital | 830,000,000 | 830,000,000 |
| Share premium | - | - |
| Retained earning | 885,099,797 | 766,964,126 |
| General Reserves | 311,647,678 | 282,113,760 |
| Total Equity attributable to equity holders | 2,026,747,475 | 1,879,077,886 |
| Non-controlling interests | - | - |
| Total Equity | 2,026,747,475 | 1,879,077,886 |
| Total Liabilities and Equity | 15,216,354,618 | 12,634,079,483 |
Statement of Profit or Loss
For the First Quarter Ended 17th Oct 2026 of the Fiscal Year 2083/84 (2026/27)
Fig in NPR
This Quarter Up to This Quarter (YTD) This Quarter Up to This Quarter (YTD)
Current Year Current Year Previous Year Previous Year
| Interest Income | 298,982,015 | 298,982,015 | 195,610,869 | 195,610,869 |
| Interest Expenses | 131,537,786 | 131,537,786 | 103,383,376 | 103,383,376 |
| Net Interest Income | 167,444,230 | 167,444,230 | 92,227,493 | 92,227,493 |
| Fee and Commission Income | 191,848,116 | 191,848,116 | 161,305,459 | 161,305,459 |
| Fee and Commission Expense | - | - | - | - |
| Net Fee and Commission Income | 191,848,116 | 191,848,116 | 161,305,459 | 161,305,459 |
| Net Interest and Commission Income | 359,292,346 | 359,292,346 | 253,532,952 | 253,532,952 |
| Net Trading Income | - | - | - | - |
| Other Operating Income | - | - | - | - |
| Total Operating Income | 359,292,346 | 359,292,346 | 253,532,952 | 253,532,952 |
| Impairment Charge/(Reversal) for Loans and Other Losses | 11,087,604 | 11,087,604 | 52,862,930 | 52,862,930 |
| Net Operating Income | 348,204,742 | 348,204,742 | 200,670,022 | 200,670,022 |
| Operating Expenses | ||||
| Personnel Expenses | 71,931,866 | 71,931,866 | 56,604,678 | 56,604,678 |
| Other Operating Expenses | 51,958,259 | 51,958,259 | 31,947,314 | 31,947,314 |
| Depreciation and Amortization | 10,332,339 | 10,332,339 | 5,340,639 | 5,340,639 |
| Total Operating Expenses | 134,222,464 | 134,222,464 | 93,892,631 | 93,892,631 |
| Operating Profit | 213,982,278 | 213,982,278 | 106,777,391 | 106,777,391 |
| Non-operating Income | 666,076 | 666,076 | 221,354 | 221,354 |
| Non-operating Expense | 3,691,797 | 3,691,797 | 724,602 | 724,602 |
| Profit Before Income Tax | 210,956,556 | 210,956,556 | 106,274,143 | 106,274,143 |
| Income Tax Expenses | 63,286,967 | 63,286,967 | 47,825,952 | 47,825,952 |
| Current Tax | 63,596,376 | 63,596,376 | 47,942,635 | 47,942,635 |
| Deferred Tax | (309,409) | (309,409) | (116,683) | (116,683) |
| Profit for the Year | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
| Other Comprehensive Income, Net of Income Tax | - | - | - | - |
| Total Comprehensive Income for the Period | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
| Profit Attributable To: | ||||
| Equity Holders | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
| Non-controlling Interests | - | - | - | - |
| Profit for the Year | 147,669,589 | 147,669,589 | 58,448,191 | 58,448,191 |
Statement of Distributable Profit or Loss
For the First Quarter Ended 17th Oct 2026
Fig in NPR
Current Year YTD Previous Year Corresponding YTD
| Operating Restated Retaining Earnings | 766,964,126 | 455,087,679 |
| Net Profit/(loss) as per statement of profit or loss | 147,669,589 | 58,448,191 |
| Appropriations: | ||
| a. General reserve | (29,533,918) | (11,689,638) |
| b. Foreign Exchange Fluctuation Fund | - | - |
| c. Capital Redemption reserve | - | - |
| d. Corporate Social Responsibility Fund | - | - |
| e. Employee Training Fund | - | - |
| f. Bonus share Issued | - | - |
| g. Cash Dividend paid | - | - |
| h. Others | - | - |
| Profit or (Loss) Before Regulatory Adjustment | 885,099,797 | 501,846,232 |
| Regulatory Adjustment: | ||
| a. Interest receivables (-)/previous accrued interest received (+) | - | - |
| b. Short loan loss provision in accounts (-)/reversal(+) | - | - |
| c. Short provision for possible losses om investment (-)/Reversal(+) | - | - |
| d. Short loan loss provision on Non-Banking Assets (-)/Reversal(+) | - | - |
| e. Deferred tax assets recognized (-)/reversal(+) | - | - |
| f. Goodwill recognized (-)/Impairment of Goodwill (+) | - | - |
| g. Bargain purchase gain recognized (-)/reversal (+) | - | - |
| h. Actuarial loss recognized (-)/Reversal (+) | - | - |
| i. Others (+/-) | - | - |
Distributable Profit or (Loss) as at 17th Oct, 2026) 885,099,797 501,846,232
Key Financial Indicators Current YearYTD Previous Year Corresponding YTD
| Basic EPS (Annualized) | 71.17 | 28.17 |
| Diluted EPS (Annualized) | 71.17 | 28.17 |
Return on Equity (Annualized) 29.14% 15.11%
Net Worth per Share 244.19 186.47
Non-Performing Loan 1.90% 3.46%
Cost of Fund 5.16% 6.12%
Interest Rate Spread 3.63% 2.42%
Gearing Ratio (Borrowings / Equity) 5.30 4.66
Provision Coverage Ratio (Loan Loss Provision / NPL) 81.61% 76.11%
1.5 Basis of Preparation and Notes
1. These unaudited financial statements have been prepared in accordance with Nepal Financial Reporting Standards (NFRS) and the section 10.8 of directives governing hire purchase lending companies issued by Nepal Rastra Bank (NRB).
2. Loan loss provisions have been recognized at the higher of the provisioning requirement prescribed by Nepal Rastra Bank (NRB/Company Internal Policy) and the Expected Credit Loss (ECL) requirement under NFRS 9.
3. Previous period figures have been regrouped, rearranged, or restated wherever necessary for the purpose of comparability.
4. These figures are unaudited and are subject to change based on the review of the Company's statutory auditor and/or directions of the Regulator.
5. This publication is made pursuant to the applicable Nepal Rastra Bank and Securities Board of Nepal disclosure requirements for licensed hire purchase lending companies.
2. Management Analysis
Operating Environment
Nepal's economy witnessed gradual recovery during Q1 FY 2083/84, while private sector credit growth remained moderate at 7.3% year-on-year as of mid-September 2026 (Nepal Rastra Bank) while the Company achieved a loan portfolio growth of 48.65% compared to same quarter of previous year and profit growth of 152.65%, significantly outperforming the overall market. Meanwhile, Nepal's banking sector continued to face asset quality pressures during Q1 FY 2083/84, with non-performing loans remaining elevated amid rising credit risks (Nepal Rastra Bank). In contrast, the Company's non-performing loan ratio improved from 3.46% to 1.90% during the same period, demonstrating strong credit risk management and effective recovery performance.
Company Performance
During the first quarter of FY 2083/84, the Company delivered strong financial performance, reflecting continued business growth and operational resilience. The operating environment during the quarter was characterized by improving credit demand, ample liquidity in the financial system and a competitive lending market. While increased economic activity and seasonal demand supported credit expansion, the Company remained focused on prudent credit assessment, effective portfolio monitoring and proactive recovery management, ensuring that business growth remained aligned with asset quality objectives and sustainable risk management practices. The loan portfolio registered significant growth of 48.65% compared to the corresponding quarter of the previous fiscal year, primarily driven by expansion in the automobile financing segment. Profit increased by 152.65%, reflecting business expansion and improved operational performance. Notably, this growth was accompanied by an improvement in asset quality, with non-performing loans declining from 3.46% to 1.90%. Furthermore, the Company's balance sheet remained conservatively funded, with gearing of approximately 5.30 times equity, comfortably within the regulatory borrowing ceiling of 10 times net worth.
The Company remains committed to strengthening asset quality, enhancing recovery mechanisms and maintaining a balanced and diversified portfolio. Going forward, the focus will remain on achieving sustainable growth through prudent risk management, operational efficiency and continued efforts to safeguard long-term stakeholder value.
Analysis of Interim Financial Statements
The Company reported a profit of NPR 147.66 million, a growth of 152.65%, and the overall loan portfolio stands at NPR 14,767.25 million, a growth of 48.65% in business size as compared to the corresponding previous period. This strong business growth and focused recovery effort has also improved asset quality, with non-performing loans decreasing from 3.46% to 1.90% even as the overall loan portfolio expanded significantly.
3. Details of Legal Proceedings
No information regarding any lawsuit by or against the Company has been filed during the period under review, except the regular cases of debt recovery.
4. Corporate Governance
The Company is committed to maintaining a high level of ethical standards, corporate governance, and compliance. The Board of Directors and management strictly comply with the regulatory norms issued by Nepal Rastra Bank (NRB) and other regulatory authorities. Further, the Company adheres to all regulatory and legal requirements and industry best practices.
Note: For the purpose of Section 84 of the Companies Act, 2063 and Rule No. 10.8 of Policy and Procedural Provisions for Approval to Hire Purchase Lending Companies, 2070 (Sixth Amendment, 2083) of Nepal Rastra Bank, this condensed financial report of Hulas Finserv Hire Purchase Limited (formerly Hulas Fin Serve Ltd.) for the first quarter of FY 2083/084 has been published for the information of all concerned.