Ankhukhola Hydropower Company Limited (AKJCL) has released their Q3 financial report for the FY 2079/80, revealing a significant decrease of 71.59% in net profit compared to the same quarter in the previous year, with the current net profit standing at Rs. 86.52 Lakhs. Total revenue up to the third quarter of FY 2079/079 has also decreased by 11.09% to Rs. 15.4 crores. However, AKJCL will receive a grant of Rs. 4.62 crore from the Nepalese government for the installation of Ankhu Khola-1, which has not yet been included in their revenue. Additionally, the company has signed an agreement to invest 60% in Ganesh Himal Hydropower’s 20 M.W. Ankhu Khola-2 Hydropower project. The administrative and general expenses have increased by 18.37%, while the finance expenses have decreased by 7.26%. The paid-up capital of the company stands at Rs. 80 crore with a negative reserve of Rs. 23 crore in reserve fund, and the company reported an annualized EPS of Rs. 1.44 and net worth per share of Rs. 71.25.
Highlights:
- The revenue generated by Ankhukhola Hydropower has decreased by 10.43% to Rs. 12.23 crores.
- Higher Operating and Interest Expenses Caused a 95.81% Drop in Ridi Power’s Net Profit Company to Issue 50% Right Shares
- Sanima Mai Hydropower reports 20.40% decline in net profit in Q3 of FY 2079/80
- Chilime Hydropower Company Limited reports a slight increase in net profit in Q3
- Sahas Urja’s net profit fell 37.26% in the second quarter.