Ridi Hydropower earns Rs 37.41 lakh in Q3; Sales to NEA drop by 35.09%

Ridi Hydropower Development Company Limited (RHPC) has reported net profit decreased by 49.12 percent in the third quarter of the current fiscal year 2072/73. Publishing the unaudited financial report for the third quarter today, the subsidiary of Arun Valley Hydropower Development Committee (AHPC) has stated that its profit after income tax (net profit) has decline to Rs 37.14 lakh in Q3 from Rs 73.54 lakh in the corresponding quarter of the previous fiscal year. Ridi’s income from power sales decreased from 1.38 crore in the previous year report to Rs 89.61 lakh in the third quarter of the fiscal year 2072/73, decreased by 35.09 percent. Likewise its income from other sources decline to Rs 44.59 thousand from Rs 1.13 lakh. The company’s operating profit has drop to Rs 75.03 crore in Q3 up from Rs 1.12 crore in the corresponding quarter of previous year. A positive aspect of the financial report is that its reserve fund has risen to Rs 6.71 crore in the third quarter report up from Rs 2.81 crore in the corresponding quarter. The Hydropower Company has made investment of Rs 3.16 crore. Its share Capital remains at Rs 33 crore. Its earning per share (EPS) stands at Rs 5.58, net worth per share is at  Rs 120.36 and P/E ratio at 376.99  times.