Ngadi Power Q3 earning surges by 35.43%; Investment of Rs 8.05 crore

Profit of Ngadi Group Power Limited (NGPL) has increased by 35.43% in the third quarter of the current fiscal year 2073/74. According to the unaudited balance sheet of the hydropower company published today, its profit after tax surged to Rs. 4.06 crore this quarter from Rs. 2.99 crore in the corresponding quarter of the previous fiscal year 2072/73. The company’s income from power sales has slightly declined to Rs. 10.43 crore in the third quarter from Rs. 10.65 crore in the corresponding quarter. As per the company, dry season in its hydropower plant at Siuri Khola Hydroelectric project is the reason behind the low electricity generation. The company’s operating profit has surged to Rs 8.86 crore in Q3 up from Rs 8.82 crore in the corresponding quarter of previous year. The Hydropower Company has made investment of Rs 8.05 crore in Q3 up from Rs 5.10 crore in corresponding quarter, due to which its other incomes have increased 154%. Ngadi’s reserve fund has inclined to Rs 4.17 crore in the third quarter, down from Rs. 3.50 crore in the FY 2072/73. Its paid up capital is Rs. 48.68 crore. As of the end of Q3, Ngadi’s annualized earning per share (EPS) stands at Rs. 11.13, net worth per share at Rs 108.57 and P/E ratio at 26.43 times.