. Sanigad Hydro Limited (Sanigad Hydro) Ltd has reported a four-fold increase in net profit in the fourth quarter of the current fiscal year.
According to the company’
s financial report, the net profit increased by 390.15 percent to Rs 26.58 crore in the review period. The company had posted a net profit of Rs 5.42 crore in the same quarter last year.
The main reason for the increase in profit is the significant decline in the company’s financial expenses. In the review period, the financial expenditure decreased to Rs 40.47 crore from Rs 57.51 crore in the fourth quarter of the previous year. This means that the company has been able to save about Rs 17 crore in financial expenses in a year.
The income from the sale of electricity has also increased in general. The company’s electricity sales increased by 3.69 percent to Rs 1.11 billion. It also earned Rs 1,70,000 in other income.
The company has also shown progress in controlling operating expenses. Other operating expenses have been reduced to Rs 23.8 crore from Rs 25.1 million in the previous fiscal year. With the increase in profit, the company’s reserve has also strengthened. The reserve has increased to Rs 33.44 crore from Rs 9.12 crore in the previous year.
The company’s earnings per share (
EPS) has increased from Rs 2.72 to Rs 9.33 from Rs 2.85 billion. Similarly, the net worth per share increased from Rs 104.57 to Rs 111.80.
The financial position of the company is showing signs of further strengthening as financial expenses are decreasing and electricity sales income is increasing steadily. In particular, the impact of the reduction in borrowing costs was directly reflected in profit and earnings per share.
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