Sanima Mai Hydropower Reports an 11.36% Drop in Net Profit

Sanima Mai Hydropower Company Limited (SHPC) reported an 11.36% decrease in net profit in the second quarter (Q2) of fiscal year 2079/80. Profit declined to Rs. 32.92 crores in this quarter from Rs. 37.14 crores in the previous year’s equivalent quarter.

Revenue from the sale of electricity has declined by 12.4% when compared to the same quarter last year. The lower revenue is attributable to the expiration of the Posted Rate Facility Agreement for the Mai Hydropower Project (15.6 MW), as well as poor hydrological conditions throughout the quarter. As a result, the net profit for the fiscal year 2079/080’s second quarter ended 11.36% lower than the previous year’s quarter ended. In addition, the business spent over Rs. 2.34 Arba in associates, which climbed by 91.06% in this quarter.

Highlights:

• Higher Operating and Interest Expenses Caused a 95.81% Drop in Ridi Power’s Net Profit Company to Issue 50% Right Shares
• The revenue generated by Ankhukhola Hydropower has decreased by 10.43% to Rs. 12.23 crores.
• Sahas Urja’s net profit fell 37.26% in the second quarter.
• National Life Insurance’s net profit increases by an astounding 57.70%.
• Rastriya Beema Company’s Profit Increased by 92.57% in Q2