Kathmandu. Mountain Energy Company has earned a profit of Rs 629 million till mid-June of the last fiscal year.

This profit is 133.95 percent higher than the same period of the previous fiscal year. In the same period of the previous fiscal year, the company had posted a profit of Rs 268.9 million.

During this period, the company earned Rs 1.30 billion from the sale of electricity. Which is 33.92 percent higher in the same period of the previous fiscal year. In the same period of the previous fiscal year, the company’s electricity sales revenue stood at Rs 976.2 million.

During this period, the company received Rs 80.6 million under insurance claim payment. The company’s interest expenses have also come down from Rs 268.8 million to Rs 244.3 million. The company’s net profit has increased due to increased income from electricity sales, insurance claim payment amount and interest expenses have also decreased. The operating profit of the company has also increased from Rs 543 million to Rs 892.1 million.

During this period, the paid-up capital of the company stood at Rs 2.60 billion and retained earnings stood at Rs 1.35 billion. During this period, the company’s earnings per share increased from Rs 11.88 to Rs 24.17. Similarly, the net worth per share has increased from Rs 148.20 to Rs 152.11.

The 42 MW Mystery Khola hydro and 5 MW Tandikhola hydro projects constructed by Mountain Energy are generating electricity regularly.