National Hydropower's 2nd quarterly report confuses shareholders; profit of Rs 4.70 crore with negative reserve

National Hydropower Company Limited (NHPC) has posted a net profit of Rs 4.70 crore in the second quarter of the fiscal year 2073/74. As per the second quarterly financial statement published by the hydropower company today, its income from electricity sales has reached Rs 10.81 crore up to the second quarter this year. NHPC had a reserve of Rs 46.54 crore in the third quarter of the FY 2072/73. But, as of Q2 this year, its reserve has reached negative Rs 40.90 crore. This has reduced its net worth per share from Rs 133.58 last year to just Rs 70.48 this year. However, NHPC has posted positive net profits in the above quarters. Its paid up capital stands at Rs 1.38 arba with annualized EPS at Rs 6.78. In this period, it has loans of Rs 19.75 crore. It recently conducted AGMs for fiscal years 2068/69, 2069/70, 2070/71 and 2071/72 and is yet to convene AGM for the FY 2072/73.