Panchakanya Mai Hydropower Incurs Loss

May 27, 2019 Merolagani

Panchakanya Mai Hydropower Company (PMHPL) has incurred loss of Rs 39.6 million in the third quarter of the current FY compared to net profit of Rs 18.8 million of the corresponding period of the last FY.

Due to the loss, its reserve loss also increased to Rs 124.6 million compared to Rs 40.8 million of the review period of the last FY. The company with Rs 1.10 billion in paid-up capital has loss per share of Rs 4.80.

By the third quarter, the company earned Rs 267.3 million through sale of electricity of two projects to NEA. Such income was Rs 273.4 million in the last FY.

During the period, the administrative expenses of the company increased significantly to Rs 302.7 million compared to Rs 235.6 million.

Similarly, the company earned Rs 173.7 million in interest expenses, depreciation of Rs 89.3 million and office expenses of Rs 39.6 million. The company earned Rs 3.1 million in other incomes.

The company has long term liability of Rs 1.86 billion and short term liability of Rs 2.4 million. The company has called out AGM of two fiscal years on June 3. The meeting is scheduled to approve financial reports, appoint auditor and elect one director each from promoter and ordinary shareholder.  


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