HIDCL Profitable by Rs. 67.93 Crore in Q4; Equity Investment Rises to Rs. 4.46 Arba

Hydroelectricity Investment and Development Company Limited (HIDCL) has published its unaudited fourth-quarter financial report for fiscal year 2082/83, reporting a 27.29% decline in net profit. The company posted a net profit of Rs. 67.93 Crore, down from Rs. 93.43 Crore in the corresponding quarter of the previous fiscal year.

As of Q4, HIDCL’s paid-up capital stands at Rs. 24.93 Arba, up 1.50% from Rs. 24.56 Arba a year earlier. However, its reserves declined by 9.13% to Rs. 3.15 Arba, compared to Rs. 3.47 Arba in the previous year.

HIDCL’s investment portfolio continued to expand during the period. Its investment in equity increased by 5.46% to Rs. 4.46 Arba, while loans extended to power projects rose by 14.94% to Rs. 8.45 Arba, compared to Rs. 7.35 Arba in the corresponding period last year.

The company held deposits of Rs. 13.76 Arba with various banks at the end of the fourth quarter, down 7.28% from Rs. 14.84 Arba recorded a year earlier. Revenue from contracts with customers increased by 11.05% to Rs. 2.67 Crore.

Meanwhile, finance income declined by 28.96% to Rs. 99.10 Crore from Rs. 139.50 Crore in the previous year. Administration expenses increased by 37.33% to Rs. 2.99 Crore, compared to Rs. 2.18 Crore in Q4 FY 2081/82.

The company’s annualized Earnings Per Share (EPS) stands at Rs. 2.73, down from Rs. 3.80 in the previous year. HIDCL reported a net worth per share of Rs. 112.65, compared to Rs. 114.13 a year earlier.

At the quarter-end, the company’s Price-to-Earnings (P/E) ratio stands at 284.70 times, while its current ratio is reported at 30.74 times.

Notice:

Major Highlights:

Particulars (Rs in 000) HIDCL
Q4 2082/83 Q4 2081/82 Difference
Paid Up Capital    24,928,211    24,559,813 1.50%
Reserves      3,152,596      3,469,253 -9.13%
Property, Plant and Equipment            19,339              7,579 155.17%
Investment in Equity      4,463,347      4,232,313 5.46%
Loan to Power Projects (Net)      8,451,234      7,352,946 14.94%
Deposits with Banks    13,760,000    14,840,000 -7.28%
Revenue from contract with Customers            26,726            24,066 11.05%
Finance Income          991,005      1,395,025 -28.96%
Administration Expenses          (29,965)          (21,820) 37.33%
Net Profit          679,337          934,332 -27.29%
EPS (In Rs.) 2.73 3.80  
Net Worth per Share (In Rs.) 112.65 114.13  
Qtr End P/E Ratio 284.70    
Current Ratio 30.74