NHPC witnesses a steep fall in profits for 3rd quarter

Indian Hydropower generation company, NHPC reported a steep fall in its standalone quarterly profits, with net profit falling to Rs 182.18 Crore, a 73.51% steep fall in the third quarter ending December 31.

The net profit for the same quarter in the previous fiscal was at Rs 687.93 Crore, state owned company stated. Along with the profits, the revenue also witnessed fall and was at Rs 1,691.22 Crore as compared to the Rs 2,066.11 Crore for the same quarter of the previous fiscal.

Comparing the net profit for April-December period, the company generated a net profit of Rs 2,138.26 Crore in the current fiscal as compared to Rs 2,569.23 Crore for same time period, in the previous fiscal. Considering the same time period, its revenue also marginally declined to Rs 6,899.71 Crore from the Rs 6,988.87 Crore.

NHPC’s net profit for the fiscal year 2017-18 was at Rs 2,758.65 Crore. Besides the quarterly report, company also approved an interim dividend at a rate of 7.10% over the face value of Paid-up equity of 10 each for the fiscal 2018-19. NHPC has marked February 20 2019, as the date for ascertaining the eligibility of its share holders to pay interim dividend.

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