The company, which had suffered a loss in the fourth quarter of the last FY, has made a strong comeback in the beginning of the current fiscal year. The company has been able to earn a net profit of Rs 48.3 million. The company's net profit increased by 66.64 percent compared to Rs 29 million of the review period of last FY.
Improvement in revenue from the sale of electricity and reduction in financial expenses have played a major role in the success of the company.
In the review period, the company's income from the sale of electricity increased to Rs 116.2 million from Rs. 112.4 million in the same period last year. The total profit of the company stood at Rs 82.4 million. The biggest contributor to the increase in profitability has been the declining financial expenses of the company; In the review period, the company's financial expenses decreased significantly to Rs 28.6 million from Rs 44.7 million in the previous year. As the debt burden decreases, there is a direct positive impact on net profit due to interest savings.
The company has paid-up capital of Rs 830 million and reserve loss of Rs 105.9 million. The company logged EPS of Rs 22.86 and net worth per share is Rs 87.24.
