Sagarmatha Jalbidhyut Company Records 15.22% Rise in Net Profit; Q1 Revenue Stands Rs 10.77 Crore
Thu, Nov 9, 2023 8:10 AM on Financial Analysis, Company Analysis, Latest,
Sagarmatha Jalbidhyut Company Limited (SMJC) has released its first-quarter report for the fiscal year 2080/81, showcasing a rise in its net profit by 15.22 percent. The company reported a profit of Rs. 5.42 crores, compared to the Rs. 4.7 crores generated in the corresponding quarter of the previous fiscal year 2079-80.
The primary driver behind this performance was the marked increase in revenue from the sale of electricity, which saw a growth of 4.27 percent, totaling Rs. 10.77 crores during the first quarter of the fiscal year 2080-81. The annualised Earnings per Share (EPS) of the company stands Rs. 19.37. Furthermore, the Net Worth per Share remained marginally above par at Rs. 109.98, as of the FY 2080-81.
However, the company faced an increase in financial expenses by 27.63%, which reached a total of Rs. 3.41 crores during the same period, impacting the overall financial metrics.
Sagarmatha Jalbidhyut Company Limited presently holds Rs. 1.12 Arba in paid-up capital, with a significant reservoir of Rs. 11.18 crores in retained earnings. The company has an investment of Rs 46.34 crore in other hydropower projects. Overall loan of the hydropower company stands Rs 1.12 arba.
The company had conducted a successful initial public offering (IPO) from 8th Chaitra to 12th Chaitra, 2079, floating 35,81,760 unit shares with a face value of Rs 100 each, with the aim of amassing Rs 35.81 crore. Consequently, the paid-up capital of the company escalated to Rs. 1.12 Arba post the IPO issuance.
Major Financial Highlights:
| Particulars (In Rs '000) | Sagarmatha Jalbidhyut Company | ||
|---|---|---|---|
| Q1 2080/81 | Q1 2079/80 | Difference | |
| Paid Up Capital | 1,120,000.00 | 571,200.00 | 96.08% |
| Retained Earnings and Reserves | 111,817.04 | 52,139.59 | 114.46% |
| Net Fixed Assets | 1,694,563.21 | 1,702,668.84 | -0.48% |
| Revenue from Power Sales | 107,758.30 | 103,343.29 | 4.27% |
| Administrative Expenses | 3,454.54 | 2,752.30 | 25.51% |
| Finance Expenses | 34,111.36 | 26,726.32 | 27.63% |
| Net Profit | 54,227.34 | 47,064.57 | 15.22% |
| EPS (In Rs.) | 19.37 | 32.96 | -41.24% |
| Net Worth per Share (In Rs.) | 109.98 | 109.13 | 0.78% |
| Qtr end PE Ratio (times) | 12.28 | - | - |
| Qtr End Market Price | 237.9 | - | - |
