Kathmandu. Green Ventures Limited, listed on the Nepal Stock Exchange, has a net profit of Rs 1.60 billion in the country.
In the last fiscal year, the company earned Rs 1.64 billion from the sale of electricity and bank interest. The company, which is a promoter of Bishal Group and Triveni Group, has been operating a 52.4 MW hydropower project at Likhu-4 in Ramechhap district.
In the last fiscal year, the increase in revenue was seen due to regularity in the operation of hydropower projects as well as improved power load factor (PLF). Production was halted for 33 days in April and April for emergency maintenance of tunnels and electromechanical equipment.
The power load factor dropped to 56.63% in the previous fiscal year due to the cessation of production for maintenance. According to Infomerics, PLF improved to 62.41% in the last fiscal year due to regular production.
In addition, the company’s profit before tax, depreciation and rent ratio increased to 85.87% from 81.74% in the previous FY. The company’s profit after tax margin stood at 23.76% in the last financial year.
The company had raised Rs 625.0 million through the issuance of 52.5 million units of shares to the general public for the Likhu Khola project that was completed at a cost of Rs 9.54 billion. The general public has 20 percent investment in the company and the rest is owned by the promoters.
According to rating agency Infomerics Nepal, the company had posted a net profit of Rs 1.47 billion in the previous fiscal year.
Green Ventures, which has a paid-up capital of Rs 3.43 billion, has acquired 51% promoter shares of Kaligandaki Gorge Hydropower Company on August 26.
Kaligandaki Gorge Hydropower has been developing and constructing 180 Megawatts Semi-Reservoir Project in Kaligandaki River in Myagdi and Mustang districts. The estimated cost of the project is Rs 39.50 billion. It has a debt-to-self-capital ratio of 75:25 percent.
Similarly, Infomerics Nepal has assigned a total rating of Rs 7.79 billion, Rs 6.64 billion for long term loan and Rs 150 million as A3 rating for short term loan.
