Api Power Company profit shoots through the roof; earning surges by 583.49% to Rs 1.70 crore in Q1; sales to NEA rises by 87.32%

Api Power Company Limited (API) has posted net profit of Rs 1.70 crore in the first quarter of the ongoing fiscal year 2073/74.The net profit of the company increased by 583.49% compared to the corresponding quarter of the previous fiscal year. The figure stood at Rs 24.91 lakh in the corresponding quarter of the previous fiscal year. API made an income of Rs 4.61 crore, from selling electricity, in Q1. Meanwhile, its income from other sources has decreased to Rs 9.10 thousand compared to Rs 5.61 lakh in the current quarter. The company’s total operating expenses has also decreased to Rs 64.95 lakh in Q1 from Rs 92.60 lakh in the corresponding quarter of the previous fiscal year. Its reserve fund increased to Rs 8.42 crore in Q1 of the current quarter from loss of Rs 1.11 crore in the corresponding quarter of FY 2072/73. Investment of the hydropower company increased to Rs 14.56 crore in this quarter from Rs 6.01 crore of investment in the previous year corresponding quarter. Its share capital remains at Rs 1 arba. Its earning per share (EPS) stands at Rs 6.81, net worth per share at Rs 108.42 and P/E ratio remains at 90 times.