NHPC's net profit drops 7.5% to Rs 888.8 crore in Dec quarter

NHPC, the state-owned hydropower company, reported a nearly 7.5% drop in its consolidated net profit to Rs 888.76 crore in the December 2021 quarter, owing to lower revenues.

According to a Bombay Stock Exchange (BSE) filing, the company reported a consolidated net profit of Rs 961.64 crore in the previous fiscal quarter.

Its total revenue in October-December 2021 was Rs 2,373.72 crore, down from Rs 2,610.69 crore the previous year.

The company's board of directors declared an interim dividend of 13.10% Rs 1.31 per equity share on the face value of paid-up equity shares of Rs 10 each for the fiscal years 2021-22 in a meeting held on Friday.

The board has set February 23 as the record date for determining whether or not shareholders are eligible for the interim dividend.

The interim dividend must be paid or dispatched within the timeframe outlined in the Companies Act of 2013.

The proposal to change the company's logo was also approved by the board.

National Hydroelectric Power Corporation (NHPC) is an Indian government hydropower board that was founded in 1975 and is owned by the Ministry of Power, Government of India.

NHPC has grown to become India's largest hydropower development organisation, with the ability to handle all aspects of hydropower project development, from conceptualisation to commissioning. NHPC Limited has expanded into the fields of solar and wind energy.

NHPC Limited currently has a 7071.2 MW installed base from 24 power plants, including two joint venture (JV) projects.

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Also read: NHPC invites bids for 100 MW floating solar project in Odisha

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