Mandu Hydropower Limited has published its un-audited fourth-quarter financial report of the fiscal year 2082/083, showing an impressive net profit growth of 414.79 percent after restarting its operations.
Mandu Hydropower Limited has published its fourth-quarter financial report for the fiscal year 2082/083. According to the published report, the company net profit grew by 414.79 percent, reaching Rs. 31 crore 85 lakh. In the same period of the previous year, the company had earned only Rs. 6 crore 18 lakh in net profit.
Strong Recovery After Floods
The company suffered heavy damage due to floods last year, which affected its 22 MW project. After completing the reconstruction and expanding the project by another 10 MW, the company is now generating electricity with a total capacity of 32 MW. This expansion and restart of electricity production helped to boost electricity sales, resulting in a huge profit growth.
Details of Income and Expenses
By the fourth quarter, the electricity sales income of Mandu Hydropower went up by 288.26 percent to Rs. 79 crore 49 lakh. With the expansion and run of the project, the company operating and maintenance expenses increased to Rs. 6 crore 14 lakh. Similarly, the financial cost was recorded at Rs. 19 crore 41 lakh, compared to Rs. 16 crore 18 lakh in the same period last year.
The paid-up capital of the company is Rs. 1 arba 36 crore 36 lakh, while its reserve and retained earnings hold Rs. 68 crore 68 lakh. Thanks to strong earnings, the reserve fund has increased by almost 86 percent compared to last year.
Improved Financial Indicators
The company has shown a big improvement in its key financial indicators. Its Earnings Per Share (EPS) increased by Rs. 18.82, bringing the total EPS to Rs. 23.36. The net worth per share of the company is now Rs. 162.88, which was Rs. 139.55 in the previous year.
According to the company management analysis, heavy rains and floods had caused major damage to the project last year. However, all units were quickly repaired and restarted. Since the new 10 MW project is also connected to the national transmission grid, the company expects its income to remain stable in the future. In addition, the company announced to distributing a 10 percent bonus share from its accumulated profit up to the fiscal year 2081/082, which is yet to be approved by the upcoming Annual General Meeting.
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