Panchthar Power (PPCL) recently released its third-quarter report for the current fiscal year, showcasing a notable shift in its financial performance.
Contrary to expectations, the company has managed to turn around its fortunes, registering a significant profit after facing losses in previous periods.
During the review period, PPCL reported a loss of Rs 120.5 million, a challenging setback compared to the net profit of Rs 86 million earned during the same period in the previous fiscal year.
The company attributed its recent losses to the inability to generate income amidst ongoing project reconstruction activities. Following the devastating floods in June/July 2023, the project has remained closed, impacting revenue streams. However, PPCL remains optimistic about completing the reconstruction by the end of the current fiscal year.
Despite the setbacks, PPCL, with its paid-up capital of Rs 962.5 million, remains resilient. While the company has reported a reserve loss of Rs 17.9 million, it is actively working towards stabilizing its financial position and ensuring sustainable growth in the future.
