AHPC posts profit rise of 10% in fourth quarter; reserve fund rises to Rs7 crore

Arun Valley Hydropower Development Company Limited (AHPC) has registered a modest net profit rise of 10 percent in the fourth quarter of the last fiscal year 2070/71.
According to the unaudited financial report published today by the company for the fourth quarter, its net profit after income tax (profit for appropriation) has risen to Rs 5.95crore up from Rs 5.41crore in the fourth quarter of the previous fiscal year 2069/70.
AHPC made an income of Rs 8.77 crore, mainly from selling electricity, by the end of the fourth quarter, up from Rs 8.46 crore in the corresponding quarter — a rise of Rs 31 lakh over the past three quarters.
Its EPS (annualized) stands at Rs 8.49, its net worth per share at Rs 132.27 and P/E ratio stands at 62.55 times.
An encouraging aspect of the financial report is that its reserve fund has risen to Rs 7.55 crore from Rs 2.40 crore, while the loan fund has dropped to Rs 30.28 lakh from Rs 24.08 lakh.
Back in April AHPC had floated 1:1 rights shares after which its paid-up capital has risen to a little more than Rs 70 crore, up from the existing Rs 35.04 crore.
The money collected from the rights issue will go on to fund hydropower projects being constructed by AHPC, according to the company.
The projects under AHPC are Piluwakhola Hydropower Project (3MW), Ridikhola hydropower (2.4 MW), Kabeli-B1 Hydropower (25MW), Upper Piluwakhola Hydropower – (11MW), Lower Phemekhola Small Hydropower (3.5 MW) and Upper Khimtikhola Small Hydropower Project (12MW).
Among them, Piluwakhola  and Ridikhola hydropower have been completed while the rest are in different stages of development.
AHPC has been floating promoter shares to the interested investors for these two projects.

source: sharesansar

AHPC pledges 10% bonus share; Q4 within a week, around Rs 6 net profit expected

Arun Valley Hydropower Development Company Limited (AHPC) has decided to pledge 10 percent bonus share and 0.5 percent cash  dividend to cover the taxes on the bonus share for the net profit it posted in the last fiscal year 2070/71.
A meeting of the AHPC Board of Directors took the decision to this effect today, according to Arjun Neupane, the company secretary  of AHPC.
A highly placed source at AHPC also told ShareSansar that they are planning to publish the financial report for the fourth quarter in a  week’s time, and that the net profit is expected to come to the tune of Rs 6 crore.
Though the dividend pledged by AHPC is lesser than 15 percent bonus share and 0.75 percent cash it had pledged for the previous  fiscal year, it may also be noted that it had floated 1:1 right share a few months back.

source: sharesansar