Higher Financial Cost Led To Net Loss of Rs. 10.43 Crores for Himalayan Power Partner (HPPL) in Q3 of FY 079/80
Mon, May 22, 2023 10:25 AM on Latest, Financial Analysis,
Himalayan Power Partner Limited (HPPL) has published its third-quarter report for the ongoing fiscal year with a Net Loss of Rs. 10.43 crores. In the corresponding quarter of the past fiscal year, the company had earned Rs. 1.70 crores.
The company was able to generate Rs. 26.33 crores up to Q3 of FY 2079/80 from sale of electricity. However, the company has incurred Rs. 1.81 crores as the cost of sales, Rs. 34.10 lakhs as administrative expenses, and Rs. 54.16 lakhs as employee costs.
The hydropower company had to lose Rs. 24.86 crores in the form of financial cost up to the third quarter of the current fiscal year, which has negatively affected the profitability of the company.
HPPL maintains a paid-up capital of Rs. 1.06 Arba while has retained an earning of Rs. 11.47 crores.
The Earnings per Share (EPS) ratio of the company stands at a negative Rs. - 9.79 while it has a Net Worth per Share of Rs. 110.77.
The closing price of the company at the end of the third quarter of FY 79/80 was Rs. 297.
The company has completed the construction of the Lamjung-based Dordi Khola Hydroelectricity project of 27 MW capacity and begun commercial production from 2079/06/14. Following the same, the company's current assets and current liabilities have increased by 1.53% and 181.33%, respectively compared up to the corresponding quarter of the past fiscal year.
According to the management analysis of the company, following the completion of the construction of the aforementioned project, the company is studying the possibility of investments in other projects.
Major Financial Highlights:
| Particulars (In Rs '000) | Himalayan Power Partner | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 1,065,417.00 | 1,065,417.00 | 0.00% |
| Retained Earnings | 114,763.85 | 206,625.43 | -44.46% |
| Property, Plant & Equipment | 19,373.84 | 18,229.33 | 6.28% |
| Revenue from Power Sales | 263,390.96 | - | - |
| Cost of sales | 18,143.98 | - | - |
| Administrative Cost | 3,410.67 | - | - |
| Employee cost | 5,416.22 | - | - |
| Finance Expenses | 248,691.25 | - | - |
| Net Profit/Loss | -104,303.00 | 17,008.50 | - |
| EPS (In Rs.) | -9.79 | 1.60 | - |
| Net Worth per Share (In Rs.) | 110.77 | 119.39 | -7.22% |
| Qtr End Market Price | 297 | - | |
