Maya Khola Hydropower Company Limited (MKHC) has reported a significant increase in net profit in the first quarter of fiscal year 2083/84, according to its unaudited financial statement.

The company earned a net profit of Rs 6.38 crore during the review period, compared to Rs 2.84 crore in the corresponding quarter of the previous fiscal year. This represents a growth of 124.52% year-on-year.

Increase in Electricity Sales Revenue

Higher revenue from electricity sales and a substantial reduction in financial expenses contributed to the company's improved profitability.

Revenue from electricity sales reached Rs 14.73 crore in the review period, up from Rs 13.80 crore in the same period last year. The company reported a gross profit of Rs 13.87 crore and an operating profit of Rs 13.36 crore.

Financial Expenses Decline

The company's financial expenses decreased to Rs 3.55 crore from Rs 5.65 crore in the corresponding period last year. The reduction in interest-related expenses provided direct support to its net profit.

Key Financial Indicators

Maya Khola Hydropower has a paid-up capital of Rs 1 billion. Its negative reserves and surplus improved to Rs 32.26 crore.

The company's annualized earnings per share (EPS) increased to Rs 25.52, while its net worth per share stood at Rs 67.38.