HIDCL’s Profit Affected After Banks Cut Interest Rates

Nov 15, 2024 11:15 AM Merolagani



Hydroelectricity Investment and Development Company (HIDCL) has published first quarter report of the current FY.

According to the report, the company recorded a decline in net profit during the period compared to the corresponding period of the last FY.

In the review period, the company earned a net profit of Rs 273.7 million. The net profit decreased by 27.73 percent compared to Rs 378.9 million of the review period of the last FY.

‘During the period, the profit of the company got affected due to negative impact on return on investment following interest rates cut by banks,’ said the company in the report.

During the period, the company rose its income to Rs 4.5 million. However, its financial income declined by 25.56 percent.

The company maintained EPS of Rs 4.46, P/E ratio of 63.58 times and net worth per share of Rs 118.12.

The company with Rs 24.55 billion in paid-up capital has reserve fund of Rs 4.45 billion.

 




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