Api Power Company Reports Decline in Net Profit by 56.38% in Q2; API Successfully Completed Construction of 4 Hydropower Projects
Mon, Feb 13, 2023 11:04 AM on Financial Analysis, Stock Market, Latest,
Api Power Company Limited (API) has posted a net profit decline of 56.38% in the second quarter (Q2) of the current FY 2079/80. The profit decreased to Rs. 6.239 crores in this quarter from Rs. 14.30 crores in the corresponding quarter of the previous year.
The decline in sales revenue and increase in finance cost resulted in a decline in net profit this quarter.
The company reported a total income of Rs. 27.4 crores in this quarter; which has decreased by 12.85% compared to the corresponding quarter of the previous year.
As per the management:
- The Company has successfully commenced the commercial operation of the 8.5 MW Naugad Gad Small Hydropower Project and is continuing to operate the same.
- The Company has also completed the construction of 8.00 MW Upper Naugadh Gad Hydropower Project and is continuing to operate the same.
- The Company has also completed the construction of 4.00 MW Chandranigahpur Solar Project and is continuing to operate the same.
- The Company has also completed the construction of 1.00 MW Dhalkebar Solar Project and is continuing to operate the same.
- The Company has also completed the construction of 1.00 MW Simara Solar Project and is continuing to operate the same.
- The company is currently constructing 40 MW Upper Chameliya HPP Project.
Its reserve fund stands at Rs. 37.12 crores with share capital at Rs 3.84 Arba. The investment of the company stands at Rs 22.07 Crores by the end of the second quarter.
Its annualized earning per share stands at Rs 3.25, net worth per share at Rs 109.66 and P/E ratio stood at 84.12 times.
Major Highlights:
| Particulars (In Rs '000) | Api Power Company | ||
|---|---|---|---|
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 3,844,915.55 | 2,758,915.55 | 39.36% |
| Reserve Funds & Accumulated Profit | 371,294.19 | 232,309.49 | 59.83% |
| Property, Plant & Equipment | 3,503,662.71 | 3,433,751.31 | 2.04% |
| Investment | 220,728.00 | 247,139.48 | -10.69% |
| Revenue from Power Sales | 274,250.39 | 314,686.47 | -12.85% |
| Administrative Expenses | 3,227.47 | 4,163.34 | -22.48% |
| Finance Expenses | 98,689.51 | 70,181.32 | 40.62% |
| Net Profit | 62,393.51 | 143,050.12 | -56.38% |
| EPS (In Rs.) | 3.25 | 10.37 | -68.70% |
| Net Worth per Share (In Rs.) | 109.66 | 108.42 | 1.14% |
| Qtr end PE Ratio (times) | 84.12 | - | - |
| Qtr End Market Price | 273 | - | - |
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