Upper Solu Hydro Electric Company Reports Net Profit of 1.08 Crores in Q3; Financial Expenses Increased By Huge Margin of 244.73%
Tue, May 2, 2023 11:32 AM on Latest, Financial Analysis, Stock Market,
Upper Solu Hydro Electric Company Limited (USHEC) has published the unaudited third-quarter report for FY 2079/2080. As per the report, the company has reported a Net profit of Rs. 1.08 Crores. The net profit decreased by 78.98% in the third quarter as compared to the relevant period of the previous fiscal year.
The company’s paid-up capital remains at Rs. 1.35 Arba. Similarly, the company has a negative reserve of Rs 3.64 Crores.
Likewise, the company made a sale of electricity worth Rs. 53.39 Crores for the Q3 of FY 79/80. The company reports increment in finance expenses with huge margin of 244.73%, which come up to Rs. 30.73 Crores. The incline in financial expenses has also affected the profitability of Upper Solu for this period.
According to management analysis, during the quarter period, electricity was produced completely from the project constructed by the organization and accordingly, electricity was being sold from the 132 KV transmission line, but due to the reduced flow of water in the river, the income was less than the previous quarters.
The annualized EPS of the company stood at Rs.1.07 and Net worth per share stood at Rs. 97.30.
| Particulars (Rs in 000) | Upper Solu Hydro Electric Company | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 1,350,000.00 | 1,019,250.00 | 32.45% |
| Retained Earnings | (36,475.60) | 135,089.49 | |
| Property, Plant and Equipment | 4,799,611.12 | 4,820,914.37 | -0.44% |
| Investment | 44,136.00 | 44,136.00 | 0.00% |
| Sale of Electricity | 533,992.80 | 278,812.37 | 91.52% |
| Finance Cost | 307,318.55 | 89,146.59 | 244.73% |
| Administrative Expenses | 9,701.78 | 9,411.82 | 3.08% |
| Net Profit | 10,811.94 | 51,433.97 | -78.98% |
| EPS (In Rs.) | 1.07 | 6.73 | -84.13% |
| Net Worth per Share (In Rs.) | 97.30 | 113.25 | -14.09% |
| P/E Ratio (In Times) | 294.05 | - | 0.00% |
