Maya Khola Hydropower's Net Profit Surges 124.52% to Rs 6.38 Crore in Q1

Maya Khola Hydropower Company Limited (MKHC) has reported a significant improvement in its financial performance, with its net profit increasing by 124.52 percent in the first quarter of the current fiscal year 2083/84. According to the company's unaudited financial statement, MKHC earned a net profit of Rs 63.8 million during the review period, up from Rs 28.4 million in the corresponding quarter of the previous fiscal year 2082/83. The substantial growth in profit was mainly driven by increased revenue from electricity sales and a significant reduction in financial expenses. During the review period, the company's electricity sales revenue increased to Rs 147.3 million from Rs 138 million in the same period last year. The company reported a gross profit of Rs 138.7 million, while its operating profit stood at Rs 133.6 million. Meanwhile, the company's financial expenses declined considerably to Rs 35.5 million from Rs 56.5 million in the corresponding period last year. The reduction in interest expenses provided additional support to the company's profitability. MKHC has a paid-up capital of Rs 1 billion, while its negative reserves and surplus have gradually improved to Rs 322.6 million. Regarding key financial indicators, the company's annualized earnings per share (EPS) increased to Rs 25.52, while its net worth per share stood at Rs 67.38.