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Mountain Energy Nepal Q3 Update: Revenue Hits Rs 1.79 Billion as Profit Surges

Mountain Energy Nepal Limited reports a 17.01% rise in electricity revenue and a 13.45% increase in net profit for the third quarter.

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Mountain Energy Nepal Q3 Update: Revenue Hits Rs 1.79 Billion as Profit Surges

Mountain Energy Nepal Limited has announced robust financial results for the third quarter of FY 2082/83, highlighted by a significant increase in electricity sales revenue to Rs 1.79 billion. This 17.01% growth is attributed to consistent power generation from the company’s key assets: the 42 MW Mistri Khola and 5 MW Tadi Khola hydropower projects. The company’s net profit rose to Rs 527.6 million, marking a 13.45% increase compared to the same period last year. This improved performance was bolstered by reduced interest expenses, Rs 29 million in interest income, and insurance claim settlements. Following a 20% bonus share distribution, the company's paid-up capital has reached Rs 3.12 billion, with an Earnings Per Share (EPS) of Rs 16.89 and a net worth per share of Rs 142.24. Additionally, the company has transitioned into a holding company structure after acquiring Dudhkhola Hydro Power Company as a subsidiary, which is slated to develop the 65 MW Dudhkhola Hydropower Project in Manang.

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