Ridi Hydropower paid Rs 115 million bank loans, profit increased by 46 percent

ShareSansar, December 11:

Ridi Hydropower Company limited (RHPC) was able to pay 115 million loans in the first quarter of this fiscal year. Due to the loan payment, Company’s interest expenses has shrunk about 47 percentage to Rs 0.30 million.  This helps company to earn Rs 7.3 million profits in the first quarter of the current fiscal year 2071/72.

Company loan has come down to Rs 137 million. Earlier it was Rs 252 million. Profit of the company is around 46 percent above compared to the profit in the corresponding period of the last fiscal year. It has earned 5 million profits previous year.  

There is reduction in company depreciation cost by 4.7 percentages to Rs 1.2 million. Income from power Sales of the company has reduced less than one percent. It earned Rs 15.7 million from sales. There is 40 percent growth in others income and it is 35 thousand. Project expenses of the company have risen by about 25 percent to Rs 1.97 million. Administrative expenses rose by 15 percent than earlier. It stood at Rs 1.75 million. Thanks to increased administrative expenses and project expenses, Operating profit slides by 4 percent to Rs 11.69 million.  

During the review period, Company has to be paid 10.4 million as Trade and receivable. The amount has slid by 4 percent than earlier. Company’s Paid up capital has risen by percent to 300 million. There is hefty increment in company’s reserve fund. It is 5.31 times surplus than earlier. It stood at 41 million.

The annualized earnings per share (EPS) of the company stood at Rs 2.44 and net-worth per share was Rs 113.97. Price earnings ratio (annualized) was 235 times.