AHPC posts profit rise of 10% in fourth quarter; reserve fund rises to Rs7 crore

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    Arun Valley HydropowerArun Valley Hydropower Development Company Limited (AHPC) has registered a modest net profit rise of 10 percent in the fourth quarter of the last fiscal year 2070/71.

    According to the unaudited financial report published today by the company for the fourth quarter, its net profit after income tax (profit for appropriation) has risen to Rs 5.95crore up from Rs 5.41crore in the fourth quarter of the previous fiscal year 2069/70.

    AHPC made an income of Rs 8.77 crore, mainly from selling electricity, by the end of the fourth quarter, up from Rs 8.46 crore in the corresponding quarter — a rise of Rs 31 lakh over the past three quarters.

    Its EPS (annualized) stands at Rs 8.49, its net worth per share at Rs 132.27 and P/E ratio stands at 62.55 times.

    An encouraging aspect of the financial report is that its reserve fund has risen to Rs 7.55 crore from Rs 2.40 crore, while the loan fund has dropped to Rs 30.28 lakh from Rs 24.08 lakh.

    Back in April AHPC had floated 1:1 rights shares after which its paid-up capital has risen to a little more than Rs 70 crore, up from the existing Rs 35.04 crore.

    The money collected from the rights issue will go on to fund hydropower projects being constructed by AHPC, according to the company.

    The projects under AHPC are Piluwakhola Hydropower Project (3MW), Ridikhola hydropower (2.4 MW), Kabeli-B1 Hydropower (25MW), Upper Piluwakhola Hydropower – (11MW), Lower Phemekhola Small Hydropower (3.5 MW) and Upper Khimtikhola Small Hydropower Project (12MW).

    Among them, Piluwakhola  and Ridikhola hydropower have been completed while the rest are in different stages of development.

    AHPC has been floating promoter shares to the interested investors for these two projects.

    Source : ShareSansar