Shiva Shree Hydropower Limited (SSHL) has released its third-quarter report for the fiscal year 2079/80, revealing a net loss of Rs. 23.79 crores. In comparison, the company had incurred a loss of Rs. 28.90 crores during the corresponding quarter of the previous fiscal year.
Despite reducing its administrative and other expenses by 46.03% to Rs. 3.36 crores up to the third quarter of the ongoing fiscal year, SSHL has witnessed an increase in financial expenses from Rs. 27.75 crores to Rs. 31.93 crores. This rise in financial expenses has adversely affected the company’s profitability.
On a positive note, SSHL has achieved a 49.55% increase in revenue generation from the sale of electricity, amounting to Rs. 26.80 crores up to the third quarter of FY 079/80.
SSHL maintains a paid-up capital of Rs. 1.47 Arba but has a negative reserve and surplus.
However, the company’s earnings per share (EPS) ratio stands at a negative Rs. -16.12, and its net worth per share is below par at Rs. 59.73.
According to the company’s management analysis, SSHL has not been able to improve liquidity and balance since the second quarter of FY 2079/80, which has negatively impacted its profitability.
Furthermore, the company reports that its Upper Chaku A Hydropower Project, with a capacity of 22.2 MW, located in Bhote Koshi rural municipality of Sindhupalchok district, has commenced commercial operation from 2078/02/01.