With The Operation Of Mountain Energy Nepal Limited's Most awaited Project, Overall Profitability sees Impressive Growth In Q2
Tue, Feb 8, 2022 9:15 AM on Company Analysis, Latest,
Mountain Energy Nepal Limited (MEN) has reported an increase in net profit by 788% in the second quarter (Q2) of the current FY 2078/79. The profit increased to Rs. 42.63 crores in this quarter from Rs. 4.79 crores in the corresponding quarter of the previous year.
As per the management, revenue from the sale of electricity includes revenue generated by Tadi Khola (5 MW) and Mistri Project (42 MW). Mistri Khola Project (42 MW) has started commercial operation from Ashad 03, 2078 and has received Rs. 66.05 lakhs which represents revenue from the construction of the project which is based on forecast plus 5% as per IFRIC 12 of NFRS (accounting standard). The company invoiced Rs. 58.75 crores to NEA as per the terms of PPA.
The revenue increased by 730% in this quarter.
Its reserve fund stands at Rs. 83.15 crores with share capital at Rs 1.96 Arba.
The company sits in a fair liquidity position of 1.70 times. The acceptable ratio is 1.5 times.
Its annualized earning per share stands at Rs. 43.32. The net worth per share at Rs 142.25 and the P/E ratio stood at 25.74 times.
Major Highlights:
|
Particulars |
Mountain Energy Nepal Limited |
||
|---|---|---|---|
|
Q2, 2078/2079 |
Q2, 2077/2078 |
Difference |
|
|
Paid-Up Capital |
1,968,027.00 |
1,968,027.00 |
- |
|
Reserve & Surplus |
831,541.40 |
342,387.45 |
142.87% |
|
Hydropower Project Assets |
6,260,051.05 |
721,585.45 |
767.54% |
|
Borrowings |
4,233,134.69 |
3,895,569.54 |
8.67% |
|
Revenue from power sales |
682,198.72 |
82,135.72 |
730.57% |
|
Administrative Expenses |
10,572.31 |
15,384.80 |
-31.28% |
|
Other Income |
135.59 |
14.53 |
833.13% |
|
Net Profit |
426,301.54 |
47,967.89 |
788.72% |
|
Earnings per share (Rs.) |
43.32 |
4.87 |
- |
|
Net worth per share (Rs.) |
142.25 |
117.40 |
- |
|
P/E Ratio (times) |
25.74 |
- |
- |
|
Current Ratio (times) |
1.70 |
- |
- |
