In a recent update, Upper Syange Hydropower Limited (USHL) shared its unaudited third-quarter financial report for the fiscal year 2080/2081, displaying signs of progress amidst ongoing challenges. Despite facing hurdles, the company reported a notable improvement in its financial performance compared to the same period last year.
The disclosed report unveils a significant decrease in net loss, which stands at Rs. 34.17 lakhs for Q3, showcasing a marked improvement from the previous year’s Rs. 3.92 Crores loss. However, USHL continues to grapple with negative reserves and surplus amounting to Rs. 7.75 crores, indicating persisting financial challenges.
One of the highlights of the report is the remarkable surge in electricity sales, which soared by 116.09% to Rs. 5.06 Crores during the quarter. Despite this positive growth, investments remained relatively low at Rs. 1.02 Crores, while loans experienced a marginal decrease of 0.87% to Rs. 34.32 Crores. Moreover, administrative expenses witnessed a decline of 6.76%, totaling Rs. 37.67 lakhs, with finance expenses amounting to Rs. 4.09 crores.
However, despite these improvements, USHL reported a negative earnings per share (EPS) of Rs. 2.07 and a net worth per share of Rs. 64.73. This indicates that the company’s financial position continues to pose challenges, with negative profitability and reduced net worth per share compared to the previous year.
Overall, while the Q3 report reflects signs of improvement in certain areas of USHL’s operations, the company still faces financial hurdles that need to be addressed to ensure sustained growth and stability.