Api Power Company net profit up 311% to Rs 3.45 crore

Api Power Company (API) has posted 311% increase in its net profit in the ongoing fiscal year 2073/74. As per the unaudited financial statement published by the hydropower company today, its net profit has increased to Rs 3.45 crore in the second quarter, up from only Rs 84 lakh in the same period last year. Its income has increased to Rs 8.81 crore, mostly from the sales of electricity and its administrative expenses has decreased by 48% to Rs 79.77 lakh at the end of this quarter. API had distributed 5% bonus share to its shareholders for the FY 2072/73. Its paid up capital after distribution of bonus share stands at Rs 1.05 arba with reserve of Rs 4.91 crore. Its annualized EPS now stands at Rs 6.58, net worth per share at Rs 104.67 and P/E ratio at 61.6 times. Its 200% right share is in SEBON pipeline. The hydropower company operates 8.5MW Nagadh River Hydropower project situated at Dethala VDC in Darchula district. It has also received approval from NEA for the construction of 8MW Upper Naugadh Small Hydropower project and is installing a 19.5 MW solar project as part of a NEA tender.