Tuesday, August 23, 2011

Hydro Power Free Lanka’s 1Q net up 314%

By Keishara Perera

Hydro Power Free Lanka PLC (HPFL), which is a company involved in Hydro power development, recorded a 1Q net profit of Rs. 17.6 million for 2011-2012, compared to the corresponding period of 2010-2011, where net profit stood at Rs. 4.2 million.

This resulted in a net profit increase of 314% compared to the previous year. Meanwhile there was an increase in other operating income which stood at Rs. 2.8 million for the period under consideration, in contrast to Rs. 17,500 during the corresponding period of 2010-2011.

According to the Cash Flow statement, the company received an interest on investing activities of Rs. 2.8 million for the period under consideration compared to interest received on investing activities during the corresponding period of 2010-2011 which stood at Rs. 17,500. 

Earning Per Share of HPFL PLC was at Rs. 0.16 for the 1Q 2011-2012 while EPS for the previous year’s 1Q was Rs. 0.06.  Furthermore, other operating expenses of the company were reduced by 94% which meant other operating expenses for the period stood at Rs. 79,176 for the 1Q of 2011-2012 in comparison to Rs. 1.3 million during the previous year’s 1Q.

On the other hand HPFL also witnessed a drop in the finance cost during the 1Q of 2011-2012 of 86%. Finance cost for the period was Rs. 244,891 compared to Rs. 1.7 million during the 1Q of the previous year.

Revenue of Delta MHP production grew from Rs. 6.6 million in 2010 to Rs. 8.9 million for the 3 months ending 30th June 2011 while revenue from Sanquhar MHP production dropped from Rs. 13.6 million in 2010 to Rs. 9.3 million during the period.

Carbon credit income also fell a notch from Rs. 2.1 million for the 3 months ending 30th June 2010-2011, to Rs. 1.8 million in the 1Q of 2011-2012.

source - www.dailymirror.lk

No comments: