NHPC Q3 net profit more than doubles to Rs 388 crore; shares close up over 3%

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State-run NHPC on Wednesday reported a net profit of Rs 388.02 crore for the quarter ended December 2015, more than double of Rs 179.83 crore in the corresponding quarter, on the back of higher income from operations. NHPC shares closed 3.40% up at Rs 21.30 apiece on the BSE. Rs 21.30 apiece on the BSE.

Net sales of the company, which is mainly into power generation business, during the quarter stood at Rs 1,440.90 crore against Rs 1,177.04 crore in the corresponding quarter of the previous fiscal, NHPC said in a BSE filing. Total expenses of the company during the quarter under review increased to Rs 1,016.69 crore over Rs 959.63 crore in the year-ago period.
“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. In a separate filing, NHPC said the Board of Directors of the company has declared “an interim dividend of 9.2% 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.”

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NHPC, the country’s largest hydro power producer, has a present installed capacity of 4,987 MW at standalone and 6,507 MW on consolidated basis with a total of 20 operating power stations. While 18 power stations are operated by NHPC, two are operated by NHDC, a subsidiary company with the government of Madhya Pradesh.

The company contributes 15% of the total hydro power installed capacity in the country.