Sahas Urja (SAHAS) Records Reduced Net Profit of Rs. 26.51 Crores in Q3 of FY 079/80; Company Began Commercial Production from Chaitra 17 Last Year
Fri, May 19, 2023 12:21 PM on Latest,
Sahas Urja Limited (SAHAS) has re-published its third-quarter report for the fiscal year 2079/80 with a reduced Net Profit of Rs. 26.51 crores. In the corresponding quarter of the previous fiscal year, the hydropower company had earned Rs. 58.13 crores.
The company has been able to generate Rs. 21.80 crores revenue from selling electricity.
On the other hand, the administrative expenses of the company have increased massively and amounts to Rs. 1.67 crore up to the third quarter of the ongoing fiscal year. Additionally, the company has incurred finance expenses of Rs. 14.71 crores up to Q3 of FY 079/80.
SAHAS maintains a paid-up capital of Rs. 3.50 Arba and has Rs. 2.36 Arba in the form of reserve and accumulated profit.
The hydropower company has an Earnings per Share (EPS) ratio of Rs. 10.10 and a Net Worth per Share of Rs. 167.53. The quarter-end Price per Earnings (P/E) ratio of the company stands at 69.03 times.
The closing price of the company at the end of the third quarter of the current fiscal year was Rs. 518.
The company informs that the construction and examination of 83 MW capacity Solukhumbu based Solukhola (Dudhkoshi) Hydropower project under the company has been completed, following which it has begun commercial production from 2079/11/17. The billings of the sale have been presented to the Nepal Electricity Authority and is currently being paid by NEA.
According to the management analysis of the company, other income mentioned in the financial statement is unreal as it is generated by drawing on the principle of IFRIC 12: Service Concession Arrangement according to the NFRS system.
Major Financial Highlights:
| Particulars (In Rs '000) | Sahas Urja Limited | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 3,500,000.00 | 3,500,000.00 | 0.00% |
| Reserve & Accumulated Profit | 2,363,584.59 | 1,984,071.54 | 19.13% |
| Property, Plant & Equipment | 213,927.32 | 177,346.30 | 20.63% |
| Revenue from sale of Power | 218,081.66 | - | - |
| Total Income | 499,090.40 | 583,917.50 | -14.53% |
| Bridge Gap Loan | 842,977.31 | 271,636.56 | 210.33% |
| Administrative & Other Expenses | 16,716.75 | 2,574.00 | 549.45% |
| Finance Expenses | 147,135.29 | - | - |
| Net Profit/Loss | 265,133.83 | 581,343.50 | -54.39% |
| EPS (In Rs.) | 10.10 | 22.15 | -54.39% |
| Net Worth per Share (In Rs.) | 167.53 | 156.69 | 6.92% |
| Qtr End P/E ratio (times) | 51.29 | - | - |
| Qtr End Market Price | 518 | - | - |
