नेशनल हाइड्रोपावरको चौथो त्रैमासिक नतिजा: घाटाबाट नाफातर्फ मोडियो, तर नाफा अझै कमजोरNational Hydro Power Q4 Results: Return to Profitability Amid Volatile Margins
नेशनल हाइड्रो पावर कम्पनी (NHPC) ले आ.व. २०८१/८२ को चौथो त्रैमासिक अडिटेड वित्तीय विवरण सार्वजनिक गरेको छ। लामो समय घाटामा रहेपछि कम्पनी यस त्रैमासमा नाफा गर्न सफल भएको छ।
यस अवधिमा कम्पनीले १६ करोड २८ लाख रुपैयाँ आम्दानी गरेको छ, जुन अघिल्लो वर्षको सोही त्रैमासको १८ करोड ९३ लाखभन्दा कम भए पनि अघिल्लो त्रैमासको ८ करोड २३ लाखभन्दा करिब दोब्बर बढेको छ।
कम्पनीको स्थूल नाफा ८ करोड ५२ लाख रुपैयाँ पुगेको छ तर स्थूल नाफा मार्जिन ५२.३१% मा झरेको छ, जुन अघिल्लो वर्षको ५९.८३% भन्दा कम हो।
सबैभन्दा उत्साहजनक पक्ष भनेको, कम्पनीले यस त्रैमासमा ३१ लाख रुपैयाँ नाफा कमाएको छ, जुन अघिल्लो वर्षको २३ करोड रुपैयाँ घाटाभन्दा ठूलो सुधार हो। यद्यपि शुद्ध नाफा मार्जिन मात्र १.९२% रहेको छ, जसले नाफा अझै कमजोर भएको देखाउँछ।
यस अवधिमा कम्पनीको ROA ०.११% र ROE ०.१३% मात्र रहेको छ। EPS ०.१३ रुपैयाँ मा सुधार भए पनि मूल्य–आम्दानी अनुपात (PE ratio) अझै अत्यधिक उच्च १६८४ छ। कम्पनीको पुस्तक मूल्य ९६.३९ रुपैयाँ भए पनि बजार मूल्य २१३.८३ रुपैयाँ रहेको छ, जसले लगानीकर्ताको उच्च अपेक्षा झल्काउँछ।
National Hydro Power Company (NHPC) has published its audited financial results for the fourth quarter of FY 2024/25, showing a turnaround in performance with positive net income after several loss-making periods.
The company reported total revenue of Rs. 162.89 million in Q4, reflecting a 100.20% YoY growth, though slightly below the Rs. 189.37 million recorded in Q4 of the previous year. Sequentially, revenues nearly doubled from Q3’s Rs. 82.36 million, signaling strong recovery in electricity sales and operations.
Gross profit stood at Rs. 85.21 million, compared to Rs. 113.29 million in the same quarter last year. The gross profit margin slipped to 52.31%, down from 63.11% in Q3 and 59.83% in Q4 of the prior year, indicating increased cost pressures despite higher revenue.
Encouragingly, NHPC posted a net income of Rs. 3.13 million, compared to a heavy loss of Rs. 23 million in Q4 2023/24. This recovery also comes after two loss-making quarters earlier in FY 2024/25. However, the net margin remained thin at 1.92%, showing profitability is still fragile.
On a broader scale, ROA was 0.11% and ROE was 0.13%, reflecting marginal improvement. EPS stood at Rs. 0.13 (annualized), recovering from last year’s negative Rs. 0.93. The reported PE ratio, however, remains extremely high at 1,684, highlighting the disconnect between earnings and stock price.
Book value per share declined slightly to Rs. 96.39, while the market value per share was recorded at Rs. 213.83, more than double its book value, suggesting high investor expectations despite weak fundamentals.
