Mountain Energy Nepal profit rises by massive 785.82% in Q1; Sales Revenue stands at Rs 39.37 crore
Fri, Nov 12, 2021 10:11 AM on Financial Analysis, Latest,
Mountain Energy Nepal Limited (MENL) has posted an increase in net profit by a massive 785.82% in the first quarter (Q1) of the current FY 2078/79. The profit increased to Rs. 29.35 crores in this quarter from Rs. 3.31 crores in the corresponding quarter of the previous year.
As per the management, revenue from sale of electricity includes revenue generated by Tadi Khola (5 MW) and Mistri Project (42 MW). Mistri Khola Project (42 MW) has started commercial operation from Ashad 03, 2078 and has received Rs. 66.05 lakhs which represents revenue from the construction of the project which is based on forecast plus 5% as per IFRIC 12 of NFRS (accounting standard).
Its reserve fund stands at Rs. 70.42 crores with share capital at Rs 1.96 Arba. The short-term and long-term borrowings of the company rose to Rs. 4.14 Arba by the end of the first quarter.
The company sits in a fair liquidity position of 3.07 times. The acceptable ratio is 1.5 times.
Its earning per share (not annualized) stands at Rs. 14.91. The net worth per share at Rs 135.79 and the P/E ratio stood at 74.76 times.
Major Highlights:
| Particulars (Rs in 000) | Mountain Energy Nepal Limited | ||
|---|---|---|---|
| Q1 2078/79 | Q1 2077/78 | Difference | |
| Paid Up Capital | 1,968,027.00 | 1,574,421.60 | 25% |
| Retained Earnings | 704,295.18 | 283,980.43 | 148% |
| Property, Plant and Equipment | 30,987.77 | 30,349.54 | 2% |
| Loans and borrowings | 4,147,612.80 | 3,363,219.90 | 23% |
| Sale of Electricity | 387,157.73 | 49,357.29 | 684% |
| Administrative Expenses | 5,264.60 | 5,239.28 | 0% |
| Operating Profit | 318,373.15 | 40,611.98 | 684% |
| Net Profit | 293,508.04 | 33,134.16 | 786% |
| EPS (In Rs.) | 14.91 | 2.10 | 610% |
| Net Worth per Share (In Rs.) | 135.79 | 118.04 | 15% |
| Qtr End P/E Ratio | 74.76 | ||
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