Net profit of Himalayan dwindles by over 50 percent

KATHMANDU, NOVEMBER 10: The net profit of Himalayan Distillery Limited has decreased by 51.24 percent to Rs 105 million 100 thousand in the first three months of the current fiscal year.  In the corresponding period last year, such a profit was recorded at Rs 215 million 700 thousand.

According to the company’s first quarterly report of the current fiscal year, the drop in the net profit came from the contraction in the sales revenue of the company.  Such revenue dwindled by 29.70 percent to Rs 980 million in the first quarter of the current fiscal. The very kind of amount had been calculated at  1.38 billion in the same period last fiscal.

“Some liquor companies are selling their products by duplicating the bottle and label designing of established brands of our company, such as Golden Oak and Black Oak. Such a deceiving act is a major reason behind the decline in sales revenue.

With a decrease in the net profit, the Earnings Per Share (EPS) of Himalayan Distillery has also nosedived.  The EPS in the first quarter of the current fiscal was Rs 35.52 while the same in the corresponding period last year had been recorded at Rs 17.32.