Mountain Energy reports decline in Net Profit in Q3; It's second project at the final stage of completion
Fri, May 7, 2021 8:33 AM on Latest, Financial Analysis,
Mountain Energy Nepal Limited (MENL) has posted a decline in net profit by 9.58% in the third quarter (Q3) of the current FY 2077/78. The profit decreased to Rs. 4.99 crores in this quarter from Rs. 5.52 crores in the corresponding quarter of the previous year.
MENL has sold electricity of worth Rs. 9.43 crores.
As per the management, revenue from sale of electricity includes only revenue generated by Tadi Khola (5 MW). In the financial report revenue from Mistri Khola Project is also mentioned which is Rs. 2.83 crores despite the underdevelopment of the project. This revenue is the forecasted revenue by the project (not realized). As per the management, Mistri Khola is at its final stage of completion.
Its reserve fund stands at Rs. 34.44 crores with share capital at Rs 1.96 Arba. The short-term and long-term borrowings of the company rose to Rs. 3.91 Arba by the end of the third quarter.
The company sits in a fair liquidity position of 5.89 times. The acceptable ratio is 1.5 times.
Its annualized earning per share stands at Rs. 3.39. The net worth per share at Rs 117.50 and the P/E ratio stood at 245.92 times.
Major Highlights:
|
Particulars |
Mountain Energy Nepal Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,968,027.00 |
1,574,421.60 |
25.00% |
|
Reserve & Surplus |
344,416.47 |
288,467.09 |
19.40% |
|
Plant, Property and Equipment |
32,044.48 |
33,631.72 |
-4.72% |
|
Investment in Subsidiary |
0.00 |
0.00 |
- |
|
Borrowings |
3,912,533.37 |
3,550,244.26 |
10.20% |
|
Total Income |
94,309.36 |
106,962.48 |
-11.83% |
|
Administrative Expenses |
20,297.63 |
19,791.54 |
2.56% |
|
Financial Expenses |
17,873.87 |
28,842.37 |
-38.03% |
|
Net Profit |
49,996.90 |
55,291.65 |
-9.58% |
|
Earnings per share (Rs.) |
3.39 |
4.68 |
-27.66% |
|
Net worth per share (Rs.) |
117.50 |
118.32 |
-0.69% |
|
P/E Ratio (times) |
245.92 |
- |
- |
|
Current Ratio (times) |
5.89 |
- |
- |
