Salt Trading Corporation Limited (STC) has reported a robust performance in the third quarter of the fiscal year 2080-81, with a 40% surge in net profit to 5.19 crores. This impressive growth was driven by a remarkable 63.91% increase in sales revenue. Despite facing challenges such as a significant rise in interest expenses by 52.85%, STC managed to maintain healthy earnings per share (EPS) and Net Worth per Share.
The surge in revenue reflects the company’s effective market strategies, while prudent cost management helped sustain profitability amidst rising expenses. Managing interest expenses will be crucial for sustained growth in the future.
In other financial news, the Nepal Stock Exchange (NEPSE) index recorded a 0.28% surge in Thursday’s trading session, closing at 1,966.23 points. This uptick signifies a positive sentiment in the market, with investors likely reacting favorably to certain developments or news.
Meanwhile, the Bagmati Province government has spent just 38.92% of its allocated budget for the fiscal year 2080/81, with ten months already passed. This underutilization suggests potential inefficiencies or delays in project execution within the provincial government.
In the gold and silver market, gold prices saw a decrease of Rs 800 per tola, while silver prices rose by Rs 10 per tola. The fluctuation in prices may be influenced by global market dynamics, currency fluctuations, and investor sentiment.
Overall, these developments in the financial sector highlight the importance of effective financial management and strategic decision-making in navigating the economic landscape of Nepal.