Bhagawati Hydropower Reports Q2 Earnings with 23.26% Growth; Clears Long-Term Debt, Revenue Up By 13.31%
Sun, Feb 11, 2024 9:39 AM on Financial Analysis, Company Analysis, Latest,
Bhagawati Hydropower Limited (BGWT) has reported a net profit of Rs. 3.77 Crores in the second quarter (Q2) of the current fiscal year 2080/81, showing an increase of 23.26% from the same quarter last year when it was Rs. 3.06 crores.
Notably, it is highlighted that the company has successfully cleared its long-term loans, resulting in a zero long-term debt burden which will significantly alleviate finance costs, as the company's financial obligations will now primarily cover short-term liabilities. Consequently, a substantial portion of the sales revenue is poised to be directed towards bolstering reserves.
The total income from power sales for Q2 was Rs. 8.2 crores and income from other sources amounted to Rs. 47.62 Lakhs.
Administrative expenses and finance expenses for the quarter were Rs. 1.49 Crore and Rs. 5.51 lakhs respectively.
The company's reserves and suplus stand at Rs. 2.28 crores, with a share capital of Rs. 57.2 Crores while share premium stands at Rs. 9.1 Crores. The annualized earnings per share is Rs. 13.2, the net worth per share at Rs. 115.92, and the P/E ratio stands at 43.71 times.
| Particulars (In Rs '000) | Bhagawati Hydropower | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 572,064.70 | 429,048.50 | 33.33% |
| Share Premium | 91,076.35 | 75,959.56 | 19.90% |
| Reserves and Surplus | 22,882.59 | 0.00 | - |
| Property, Plant & Equipment | 550,792.91 | 571,607.69 | -3.64% |
| Revenue from Power Sales | 82,006.37 | 72,371.60 | 13.31% |
| Other Income | 4,762.14 | 4,405.73 | 8.09% |
| Administrative Expenses | 14,995.91 | 10,201.70 | 46.99% |
| Finance Expenses | 551.22 | 4,836.71 | -88.60% |
| Net Profit | 37,758.36 | 30,634.22 | 23.26% |
| EPS (In Rs.) | 13.20 | 14.28 | -7.56% |
| Net Worth per Share (In Rs.) | 115.92 | 117.70 | -1.52% |
| Qtr End PE Ratio (Times) | 43.71 | ||
| Qtr End Market Price | 577 | - | - |
