Liberty Energy Company Reports Net Loss of Rs. 2.84 Crores for Q4 - 78/79; EPS at -1.90
Sun, Aug 21, 2022 11:08 AM on Latest, Financial Analysis, Stock Market,
Liberty Energy Company Ltd has published the fourth quarter (Q4) report of the current FY 2078/79. The profit decreased to Rs. 2.8 crores in this quarter from Rs.3.8 crores in the corresponding quarter of the previous year.
LEC has not reported revenue from the sale of electricity as the upper Dordi “A” Hydropower Project (25 MW) owned by a company located in the Lamjung district is still under construction.
The company made an investment of Rs. 10 Lakhs in this fiscal year. Similarly, the retained earnings of the company stand at negative Rs. 17.93 Crores with share capital at Rs. 1.50 Arba. At this capital, the annualized earning per share stands at Rs. -1.90.
The management has clarified that the reason behind the negative EPS of the company is due to all the overhead costs which were not related or not directly attributable to the project Upper Dordi ‘A’ Hydropower has been charged and transferred to the Profit and Loss Account as per the rules and guidelines implemented by the Nepal Financial Reporting Standards (NFRS). Previously, such costs were directly charged to capital work-in-progress.
The net worth per share at Rs 88.04 and the P/E ratio stands at -131.66 times.
Major financial highlights
| Particulars (Rs in 000) | Liberty Energy Company Limited | ||
|---|---|---|---|
| Q4 2078/79 | Q4 2077/78 | Difference | |
| Paid Up Capital | 1,500,000.00 | 1,500,000.00 | 0.00% |
| Retained Earnings | (179,383.24) | (150,914.38) | 18.86% |
| Property, Plant and Equipment | 22,689.84 | 25,964.18 | -12.61% |
| Investment | 1,000.00 | ||
| Cash and Cash Equivalents | 19,117.55 | 5,869.32 | 225.72% |
| Administrative and Operating Expenses | 10,645.35 | 13,819.99 | -22.97% |
| Net Profit | (28,458.91) | (38,574.08) | -26.22% |
| EPS (In Rs.) | (1.90) | (2.57) | -26.07% |
| Net Worth per Share (In Rs.) | 88.04 | 89.94 | -2.11% |
| Qtr End P/E Ratio | (131.66) | - | |
