NHPC surges over 4% on posting 28% rise in Q2 net profit

NEW DELHI: Shares of NHPC advanced over 4 per cent in intraday trade on Friday after the company reported 27.88 per cent rise in net profit to Rs 1,554.66 crore for the quarter ended September 30, 2016 against Rs 1,215.67 crore reported for the corresponding quarter a year ago.

Total income from operations increased marginally by 2.5 per cent to Rs 2,403.36 crore from Rs 2,344.90 crore in the same quarter last year.

For July-September period, the company reported 33.88 per cent year-on-year rise in profit before tax figures at Rs 1,924.28 crore. It had posted a profit before tax of Rs 1,437.37 crore for the same period last year.

Total expenditure of the company for the quarter under review stood at Rs 1,185.98 crore against Rs 1,128.32 crore reported for the same quarter last year.

For the half year ended September 30, 2016, NHPC posted a net profit of Rs 2,412.48 crore, up 19.79 per cent from Rs 2,013.84 crore reported for the corresponding quarter a year ago.

Shares of the company were trading 4.37 per cent higher at Rs 26.30 on NSE in afternoon trade around 2.25 pm. The scrip opened the day at Rs 25.30 and touched a high and low of Rs 26.35 and Rs 25.15, respectively, in trade so far.

The scrip hit its 52-week of Rs 28.30 on August 31, 2016 and a 52-week low of Rs 18.45 on November 18, 2015.

Since the beginning of this calendar, the NHPC stock has risen 18.87 per cent to Rs 25.20 till November 17, whereas the benchmark Nifty index advanced 1.47 per cent during the same period.


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