Ridi Hydropower posts increase in net profit and fall in borrowings for the first quarter of FY 75/76

Tue, Nov 6, 2018 6:38 AM on Company Analysis, Latest, Stock Market,

Ridi Hydropower Development Company (RHPC) has published its unaudited financial report for the first quarter of FY 75/76.

The hydropower company has a paid up capital of Rs.50.10 Crore which has increased by 6% since the first quarter of the previous year. The reserves of the company has fallen from Rs.4.35 Crore to Rs.4.26 Crore, marking a fall of 2% compared to the corresponding quarter of previous year. The borrowings of the company, which stood at Rs.5.24 Crore in the previous year, have fallen by 46% and currently stand at Rs.2.83 Crore, indicating that the company is gradually fulfilling its obligations.

A mere growth of 0.13% can be seen in the investments of the company which currently stands at Rs.14.03 Crore. The total income of the company grew by 15.48% to stand at Rs.1.54 Crore. Similarly, the operating profits of the company grew by 18.21% and the net profits of the company grew by 35.26% compared to the corresponding quarter of the previous year. The operating profit stands at Rs.1.22 Crore while the net profit stands at Rs.96.70 Lakhs.

The EPS has grown from Rs.6.36 in the previous year to Rs.7.72 in the first quarter of the current year. A slight fall in the Net worth per share can be seen as well. The net worth that was previously at Rs.109.22, currently stands at Rs.109 per share.

Highlights

Particulars (In Rs '000)

Q1 75/76

Q1 74/75

Difference

Paid Up Capital

501,055.10

472,230.00

6.10%

Reserves and Surplus

42,644.89

43,531.63

-2.04%

Borrowings

28,303.92

52,411.14

-46.00%

Investment

140,380.80

140,195.90

0.13%

Total Income

15,405.21

13,339.94

15.48%

Operating Profit

12,276.09

10,385.23

18.21%

Net Profit

9,670.24

7,149.60

35.26%

EPS (In Rs)

7.72

6.36

21.38%

Net Worth Per Share (In Rs)

109.00

109.22

-0.20%