Ridi Hydro profit surges by 9.66% in Q1; Reserve increases by Rs 1.48 crore

Ridi Hydropower Development Company Limited (RHPC) has posted a net profit of Rs 80.28 lakh in the first quarter of the fiscal year 2072/73.

Publishing the unaudited financial report for the first quarter today, the subsidiary of Arun Valley Hydropower Development Committee (AHPC) has stated that its net profit has risen to Rs 80.28 lakh by the quarter end, up from the net loss of Rs 73.20 lakh in the corresponding quarter of the previous fiscal year. Ridi’s income from power sales decreased from 1.57 crore in the previous year report to Rs 1.48 crore in the first quarter of the fiscal year 2072/73.

The company’s operating profit has surged to Rs 1.18 crore in Q1 up from Rs 1.16 crore in the corresponding quarter of previous year.

Its reserve fund has risen to Rs 5.67 crore in the first quarter report up from Rs 4.19 crore in the first quarter.

The Hydropower Company has made investment of Rs 3.16 crore. Its share Capital remains at Rs 33 crore.

Its EPS stands at Rs 2.43 (quaterly), net worth per share is at  Rs 117.20 and P/E ratio at 162.55  times.

RHPC is operating a 2400 kW Ridikhola Small Hydropower Project at Ruru VDC of Gulmi district, Western Development Region of Nepal.  It has been developed as an umbrella company of Arun Valley Hydropower Development Company Limited that has already built and operating a 3MW Piluwakhola Project in Eastern Nepal. The company is planning to develop other hydropower projects in future.