HIDCL Increases Net Profit by 69%

Aug 16, 2018 Merolagani

The net profit of Hydroelectricity Investment and Development Company (HIDCL) has increased by 69 percent to Rs 830.3 million in the last FY compared to Rs 490.9 million in the previous FY.

Apparently, the company raised its profit through depositing money in BFIs rather than through investment in hydro projects. The company has bank deposit of Rs 14.52 billion while has investment of just Rs 1.38 billion in hydro projects.

In the review period, the company increased bank deposit by Rs 4.59 billion. In the previous FY, it had bank deposit of Rs 9.92 billion.

Thus, the company earned Rs 1.17 billion as interest income from various BFIs while earned merely Rs 117.1 million from interest income through investment. The total income of the company stands at Rs 1.32 billion.

Meanwhile, the company has operating expenses of Rs 55.8 million.

 

comments powered by Disqus

Nepal Reinsurance Company Announces Dividend

Apr 16, 2024 10:15 AM

Nepal Reinsurance Comapny (NRIC) has announced dividend of the last FY.

Gold Price Breaks Previous Record

Apr 19, 2024 11:12 AM