NHPC Q3 net doubles to Rs.388 crore on more operating income

New Delhi, Feb 10 (IANS) India’s largest hydel power producer, state-run NHPC on Wednesday reported more than doubling of its net profit for the third quarter ended December 2015 at Rs.388.02 crore, compared to Rs.179.83 crore in the same quarter last year, buoyed by higher income from operations.

NHPC’s net sales during the quarter in question stood at Rs.1,440.90 crore, as against Rs. 1,177.04 crore in the corresponding quarter of the previous fiscal, the company said in a stock exchange filing.

“In view of the seasonal nature of business, the financial results of the current quarter may not be comparable with previous quarter of current year,” it said.

The company’s total expenses during the quarter in consideration increased to Rs.1,016.69 crore, compared to Rs.959.63 crore in the same period a year ago.

NHPC, which contributes 15 percent of the total hydroelectric power capacity in the country, has a current installed capacity of 4,987 MW on standalone, and 6,507 MW on a consolidated basis, with a total of 20 operating power stations.

NHPC also said its board of directors has declared “an interim dividend of 9.2 percent of face value of Rs.10 per share (Re.0.92 per equity share) on the paid-up share capital of the company for the financial year 2015-16.”

NHPC stock closed trade on Wednesday 3.40 percent higher than its previous close, at Rs.21.30 a share, on the Bombay Stock Exchange (BSE).

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