Nepal Warehousing Company Faces Significant Q2 Net Loss Due to Soaring Finance Expenses, Despite Impressive Revenue Surge
Wed, Jan 31, 2024 10:31 AM on Financial Analysis, Company Analysis, Latest,
Nepal Warehousing Company Limited (NWCL) has disclosed its unaudited financial report for the second quarter of Fiscal Year 2080/81, revealing a substantial increase in net loss. The company recorded a net loss of Rs. 9.21 Crores, compared to Rs. 2.99 Crores in the corresponding quarter of the previous year.
In the first quarter, NWCL achieved a revenue of Rs. 66.10 lakhs from its operations, marking a significant uptick of 144.92% compared to the same period in the preceding year. However, the financial statement also highlights a considerable increase in finance expenses, amounting to Rs. 6.14 Crores, reflecting a sharp spike of 658.91%, which emerged as a primary factor contributing to the net loss.
Borrowings witnessed a marginal uptick of 0.74%, reaching Rs. 93.1 Crores, compared to Rs. 92.41 Crores in the same quarter of the previous year.
NWCL maintains a paid-up capital of Rs. 68.75 Crores, although it reports negative other equity standing at Rs. 15.27 Crores. The company has reported negative Earnings Per Share (EPS) standing at Rs. 13.40. Additionally, the net worth of the company is reported at Rs. 77.78.
The company recently initiated an Initial Public Offering (IPO), releasing 8,59,300 units to the general public at the par value of Rs. 100 per share. The IPO subscription period spanned from the 23rd to the 26th of Ashwin 2080.
| Particulars (In Rs '000) | Nepal Warehousing Company | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 687,500.00 | 550,000.00 | 25.00% |
| Other Equity | -152,735.42 | -60,614.31 | - |
| Property, Plant & Equipment | 590,752.73 | 605,888.84 | -2.50% |
| Borrowings | 931,057.07 | 924,187.07 | 0.74% |
| Revenue from Operation | 6,610.37 | 2,698.96 | 144.92% |
| Direct Operating Expenses | 1,413.84 | 6,008.03 | -76.47% |
| Finance Expenses | 61,427.98 | 8,094.28 | 658.91% |
| Net Loss | -92,121.11 | -29,909.37 | - |
| EPS (In Rs.) | -13.40 | - | - |
| Net Worth per Share (In Rs.) | 77.78 | 88.98 | -12.58% |
| Qtr End Market Price | 791.3 | - | - |
