Upper Tamakoshi Hydropower Company has reported an accumulated loss of Rs 12.18 billion by the end of the third quarter of the current Fiscal Year (FY) 2024/25, according to its recently published financial statement.

The company had posted an accumulated loss of Rs 8.69 billion during the same period last FY. Its share premium remains unchanged at Rs 913.7 million.

As of mid-April, the company recorded a quarterly loss of Rs 2.06 billion, up from Rs 1.39 billion in the same period last year. The company cited an 88-day complete halt in electricity generation due to a landslide at the project’s dam site on October 12, 2024, as the major reason behind the decline in revenue.

As the company could not sell electricity during the stoppage, it suffered a significant drop in income compared to the same period last year. The company has filed an insurance claim for the income loss but has yet to receive the compensation.

The company’s earnings per share (EPS) stood at a negative Rs 9.76 by the third quarter, down from negative Rs 6.57 during the same period last year. Its net worth per share is reported at Rs 46.70.