Khani Khola Hydropower Turns Profitable, Reports Rs 3.65 Crore Net Profit in Q1

Khani Khola Hydropower Company Limited (KKHC) has reported a significant improvement in its financial performance, moving from a net loss to a net profit in the first quarter of the current fiscal year 2083/84. According to the company's unaudited financial statement, KKHC posted a net profit of Rs 36.579 million during the review period, compared to a net loss of Rs 18.914 million in the corresponding quarter of the previous fiscal year. The remarkable turnaround was primarily driven by a substantial increase in electricity sales revenue and improved operational efficiency. During the review period, the company's electricity sales revenue surged by more than 276 percent to Rs 68.522 million, up from Rs 18.221 million in the same period last year. The increase was attributed to both of the company's hydropower projects operating at full production capacity. Similarly, the company's operating profit increased significantly to Rs 57.359 million from Rs 11.5 million in the corresponding period last year. Meanwhile, interest expenses declined from Rs 19.3 million to Rs 9.193 million, further supporting its profitability. The company's accumulated losses also decreased considerably. Its reserve fund, which stood at a negative Rs 164.8 million last year, improved to a negative Rs 85.8 million by the end of Ashoj this year. KKHC has a paid-up capital of Rs 931.428 million, while its long-term debt has declined to Rs 594.5 million. Regarding key financial indicators, the company's annualized earnings per share (EPS) improved from a negative position to Rs 15.71. Its net worth per share stood at Rs 90.78.