Hulas Finserv Hire Purchase Limited's net profit has increased by 99 percent in the second quarter. The company's unaudited financial statements released by the company state that the net profit in the second quarter of the fiscal year 2082/83 has reached 99.33 percent, or Rs 134.4 million, up to six months.

Which was only 67.4 million in the same period of the last fiscal year. The company has also more than doubled its loan and advance portfolio. According to the financial statement, it has reached 10.64 billion rupees during this period, which is an increase of more than 100 percent compared to the previous year.

Interest income has increased by 417.7 million rupees or 220.07 percent. The financial report states that operating profit has increased to 219.9 million rupees by improving cost control and risk management.

The non-performing loan ratio has decreased from 4.68 percent to 3.05 percent. This also shows that the company has improved its asset quality. The company said, ‘The improved recovery process and credit monitoring system have played an important role compared to the past, and there has also been a positive improvement in key financial indicators.’

Earnings per share have reached 32.39 rupees, return on equity 16.56 percent and net worth per share has reached 195.62 rupees. The company stated that it has been able to achieve success by focusing on improving the quality of the portfolio, operational efficiency and sustainable growth despite external obstacles and challenges.