Incline in Operating Expenses Led to Net Loss of Rs. 5.97 Crores for Sanima Middle Tamor Hydropower in Q3; Net Worth Per Share Below Par Value at Rs. 97.03
Fri, May 12, 2023 3:44 PM on Latest,
The recently listed Sanima Middle Tamor Hydropower Limited (TAMOR) has published it’s third quarter report for the fiscal year 2079/80 with a Net loss of Rs. 5.97 crores in Q3.
Previously, in the third quarter of FY 2078/79, the hydropower company had net loss of Rs. 1.79 crores.
The administrative and other expenses of the company have increased to Rs. 4.19 crores which is an increase of 133.29% compared to the corresponding quarter of the previous fiscal year.
Likewise, the company generated revenue from construction worth Rs. 2.55 Arba in the third quarter of the current fiscal year.
The hydropower company maintains a paid-up capital of Rs. 3.33 Arba and has Rs. 5.65 lakhs in other reserves.
Meanwhile, the company reported a negative Earning per Share (EPS) of Rs. - 2.39 while has a Net worth per Share of Rs. 97.03 only.
The hydropower company traded at Rs. 321 on the last day of the third quarter of the FY 2079/80.
According to the management analysis of the company, an incurred cost of Rs. 4.19 crores in the form of administrative and other operating expenses in the third quarter of the current fiscal year, has resulted in decline of Net Profits of the company.
Earlier from Falgun 26- 30, the company had issued 42,48,938 units worth Rs 42.48 crores as Initial Public Offering (IPO) to the general public.
Among the total 49,98,750 units; 10% i.e., 499,875 units had already been issued and allotted to Nepalese citizens working abroad, whereas 5% of the total offered shares i.e., 249,937 units had been set aside for the mutual funds. Additionally, the remaining 42,48,938 units were for the general public.
Following the IPO issuance, the paid-up capital of the company amounted to Rs.3.33 Arba.
As per the allotment module, a total of 4,24,893 applicants had been allotted 10 units each via lottery, and lucky 8 applicants got 1 unit extra while the remaining 9,23,449 applicants had to return empty-handed.
After completion of the IPO allotment procedure, 33,325,000 unit IPO shares of the company had been listed in NEPSE. This was inclusive of the shares held by promoters and the quantity issued to the general public and the project-affected locals.
Major Financial Highlights:
| Particulars (In Rs '000) | Sanima Middle Tamor Hydropower | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 3,332,500.00 | 2,332,750.00 | 42.86% |
| Retained Earnings | -99,476.60 | -7,424.00 | |
| Other Reserve | 565.54 | 530.87 | 6.53% |
| Property, Plant and Equipment | 57,883.15 | 62,699.48 | -7.68% |
| Revenue | 2,552,992.98 | 1,015,847.76 | 151.32% |
| Administrative and other operating expenses | 41,996.31 | 18,001.62 | 133.29% |
| Net Profit | -59,721.80 | -17,954.63 | |
| EPS (In Rs.) | -2.39 | -1.54 | 55.23% |
| Net Worth per Share (In Rs.) | 97.03 | 100.02 | -2.99% |
| Qtr end PE Ratio (times) | -134.34 | - | |
| Qtr End Market Price | 321 | - | |
