The company, which was in net loss of Rs18.9 million the corresponding period of the last FY, recorded net profit of Rs 26.5 million in the review period of the current FY.
The huge increase in electricity sales revenue and improvement in operating efficiency have played a major role in turning the company back in a positive direction.
In the review period, the company's electricity sales income increased by more than 276 percent to Rs 68.5 million from Rs 17.2 million in the same period of the last FY. This is an encouraging jump in revenue as both the hydropower projects of the company are currently generating power at full capacity.
Similarly, the company's operating profit increased to Rs 57.3 million from Rs 11.5 million. During the period, the company's bank interest expense decreased from Rs 19.3 million to Rs 9.1 million.
With the financial consolidation, the company's accumulated losses have also come down significantly. The reserve loss of the company decreased to Rs 85.8 million from Rs 164.8 million of the last FY. The paid-up capital of the company stood at Rs 931.4 million while long-term debt has decreased to Rs 594.5 million.
In the review period, the company logged EPS of Rs 15.71 and net worth per share of the company Rs 90.78.
