Increased Financial Cost Led to Net Loss of Rs. 6.47 Crores for Bhugol Energy (BEDC) in Q3 of FY 079/80
Sun, Jun 18, 2023 10:28 AM on Latest,
Bhugol Energy Development Company Limited (BEDC) has published its third-quarter report for the ongoing financial year 2079/80 with a Net Loss of Rs. 6.47 crores. In the corresponding quarter of the past fiscal year, the company lost Rs. 84.49 lakhs.
The company has Rs. 66.68 crores in the form of Net property, plant, and equipment.
The company’s revenue from power sales, which is the core revenue generation stream for a hydropower company stands at Rs. 2.34 crores in Q3 of the current financial year, which has declined by 30.59 percent compared up to the corresponding quarter of the previous fiscal year.
The company’s financial cost has increased significantly by 62.05 percent and amounts to Rs. 5.86 crores up to Q3 of FY 2079/80, which is the major factor that has affected the profitability of the company.
The Earnings per Share (EPS) of the company stands at Rs. – (16.18) and has a below-par Net Worth of Rs. 58.21.
BEDC has Rs. 40 cores as issued paid-up capital.
The company has begun generating income from the sale of electricity. According to the management analysis of the company, in the future, the profits of the company will increase as the company will continue commercial production and sale of electricity in addition to the probability of timely monsoon which increases the commercial production.
Recently on Jestha 24, 2080, 54,40,534 unit IPO shares of Bhugol Energy Development Company Limited had been listed in NEPSE. This included the shares held by promoters and the quantity issued to the general public and project-affected locals.
Out of a total of 54,40,534 units of shares worth Rs. 54.40 Crores, 13,46,993 units worth Rs 13.46 Crores were issued as Initial Public Offering (IPO) to the general public (Chaitra 23- 27, 2079).
Major Financial Highlights:
| Particulars (In Rs '000) | Bhugol Energy Limited | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 400,035.50 | 380,837.40 | 5.04% |
| Reserve and Surplus | -167,187.92 | -272,331.90 | - |
| Net Property, Plant & Equipment | 666,822.64 | 691,301.73 | -3.54% |
| Revenue from Power Sales | 23,425.81 | 33,749.92 | -30.59% |
| Cost of Sales | 759.47 | 972.55 | -21.91% |
| General and Administrative Expenses | 10,743.55 | 10,105.55 | 6.31% |
| Finance Expenses | 58,646.32 | 36,189.21 | 62.05% |
| Net Loss | 64,714.35 | 8,449.14 | - |
| EPS (In Rs.) | - 16.18 | - 2.22 | - |
| Net Worth per Share (In Rs.) | 58.21 | 28.49 | 104.30% |
