Synergy Power Development almost recovers from negative reserves by the end of second quarter; net profit rises by 78.70%

Synergy Power Development Limited (SPDL) has posted a rise in net profit for the second quarter of the current FY 2076/77 compared to the corresponding quarter of the last fiscal year. 

The net profit after tax prior to reserves adjustment stands at Rs.6.68 Crore in second quarter of fiscal year, which was Rs.3.73 Crore in the corresponding quarter of the previous fiscal year 2075/76. The net profits have increased by 78.70% compared to the previous year.

It made a total income of Rs.13.54 Crore, mainly from selling electricity, by the end of the second quarter. It was Rs.11.38 Crore in the corresponding quarter of the previous year.

Its share capital remains at Rs.70 Crore with a negative reserve of Rs.64.39 Lakhs. The project has long term loans worth Rs.63.97 Crore till the end of the second quarter, which was Rs.70.91 Crore in the previous year’s corresponding quarter.

The earning per share (EPS) as of the quarter end stands at Rs.9.54 and its net worth per share stands at Rs.99.08.