April 19, Kathmandu- Chandragiri Hills Limited (CGH) has released its unaudited financial statements for the third quarter of the current fiscal year. The company's losses have increased during that period.
The company has incurred a net loss of Rs. 181.1 million as of April 3 of the current fiscal year. The company's loss has increased by Rs. 159.3 million as compared to the same period of the previous fiscal year. The company had incurred a loss of only Rs 21.8 million in the same period last fiscal year.
The company's losses have risen after operating income and other incomes declined.
The company's operating income declined by Rs 237.9 million during the review period, while other income declined by Rs 12.7 million. The operating profit of the company, which was positive of Rs. 142.1 million as of April 30, 2013, has turned negative of Rs.
The company, which has a paid-up capital of Rs 1.53 billion, has a negative reserve of Rs 32.08 million. The company's EPS has been negative at Rs 11.81 paise and net worth per share at Rs 79.09 paise as of March 30.
In the third quarter of the current fiscal year, the company has an average daily 1400 visitors in cable cars and an average occupancy of 40 percent in resorts.
The Chandragiri Hills Resort operated by the company has been classified as a 'luxury resort' by the Department of Tourism, Ministry of Culture, Tourism and Civil Aviation, Government of Nepal. Aiming at tourists, the company has added a wall climbing facility in the top station area of the cable car. In addition, the company has said that it has taken forward the work of adding facilities including zip line and swing.