AHPC posts profit rise of 6.29% in second quarter; earns Rs 3.12 crore

ShareSansar, February 10:

Arun Valley Hydropower Development Company Limited (AHPC) has registered a modest net profit rise of 6.29 percent in the second quarter of the last fiscal year 2071/72.

According to the unaudited financial report published today by the company for the second quarter, its net profit after income tax has risen to Rs 3.12 crore up from Rs 2.963 crore in the second quarter of the previous fiscal year 2070/71.

AHPC made an income of Rs 4.07 crore, mainly from selling electricity, by the end of the second quarter, down from Rs 4.13 crore in the corresponding quarter — a decline of Rs 6.09 lakh.

Its EPS (annualized) stands at Rs 8.32, its net worth per share at Rs 109.98 and P/E ratio stands at 44.10 times.

An encouraging aspect of the financial report is that its reserve fund has risen to Rs 7.68 crore from Rs 4.52 crore, while the loan fund has dropped to Rs 2.01 lakh from Rs 8.35 lakh.

Back in April AHPC had floated 1:1 rights shares after which its paid-up capital has risen to Rs 77 crore, up from the existing Rs 35.04 crore.

The money collected from the rights issue will go on to fund hydropower projects being constructed by AHPC, according to the company.

The projects under AHPC are Piluwakhola Hydropower Project (3MW), Ridikhola hydropower (2.4 MW), Kabeli-B1 Hydropower (25MW), Upper Piluwakhola Hydropower - (11MW), Lower Phemekhola Small Hydropower (3.5 MW) and Upper Khimtikhola Small Hydropower Project (12MW).

Among them, Piluwakhola and Ridikhola hydropower have been completed while the rest are in different stages of development.