Api Power’s Profit Declines Despite Higher Electricity Sales Revenue

Api Power Company Limited has published its unaudited financial statement for the fourth quarter of the last fiscal year, revealing a significant rise in electricity sales revenue. The company earned Rs. 1.65 billion from electricity sales during the review period, up 32.24% compared to Rs. 1.24 billion in the same period last year. However, despite the revenue growth, net profit declined by 4.99% to Rs. 427.6 million, mainly due to a 1.93% drop in operating profit and a 17.86% increase in financial expenses. Earnings per share also fell by Rs. 0.74 to Rs. 7.04. As of the end of Ashad, the company’s net worth per share stood at Rs. 111.07 and the price-to-earnings ratio at 42.04 times. The company has a paid-up capital of Rs. 6.07 billion, with other equity amounting to Rs. 672.7 million.