UFL’s turnover increases

Kathmandu, January 12:

United Finance Ltd has successfully completed its 12th annual general meeting which was chaired by Basanta K Chaudhary as chairman of UFL, says a press statement issued by the finance company today.

The annual general meeting approved distribution of 10 per cent dividend to shareholders and transfer of an amount equal to 10 per cent of paid-up capital to capital adjustment fund from current year’s profit.

Company was able to increase its operating profit from Rs 11.4 million to Rs 22.3 million and net profit from Rs 8.04 million to Rs 12.70 million compared to last year, which comes to an increment of 95.61 per cent and 58 per cent respectively, says the statement.