United IDI Mardi RB Hydropower Limited (UMRH) Q4 Results: Revenue Stable but Profit Declines

United IDI Mardi RB Hydropower Limited (UMRH) has published its audited Q4 results for FY 2024/25, showing stable revenues and high gross margins but a sharp decline in profitability compared to the previous quarter, reflecting pressure on earnings momentum.

The company reported total revenue of Rs. 159.86 million, nearly flat year-over-year against Rs. 157.05 million in Q4 2023/24. Sequentially, revenues dipped by 20.36% compared to Q3, indicating weaker generation or seasonal slowdown in the latest quarter.

Gross profit stood at Rs. 142.62 million, maintaining a very strong margin of 89.22%, consistent with hydropower efficiency norms. However, net income dropped to Rs. 26.27 million, compared to Rs. 46.95 million in Q3 and Rs. 18.36 million last year. The net margin fell to 16.43%, down from 34.47% in the prior quarter, highlighting pressure on profitability.

For shareholders, EPS (annualized) declined to Rs. 5.70, compared to Rs. 14.13 in Q3 and Rs. 4.14 in Q4 2023/24. The PE ratio surged to 107.31, reflecting overvaluation against weaker earnings. Book Value per Share dropped to Rs. 105.96, from Rs. 114.86 in Q3, while the market price per share climbed to Rs. 611.69, higher than Rs. 430.00 last year, showing strong investor confidence despite earnings volatility.

Financial Indicators

• ROA (TTM) was 1.91%, down from 3.11% in Q3, though above last year’s 1.33%.

• ROE (TTM) fell to 5.33%, from 8.75% in Q3 and 3.98% last year, reflecting declining shareholder returns.

• Consistently high gross margins above 89% demonstrate efficiency, but profitability swings suggest vulnerability to seasonal fluctuations.

• A dividend of Rs. 4.21 per share was distributed, reflecting continued commitment to shareholder returns despite softer earnings.