NHPC Faces Profit Dip Amid Rising Expenses

NHPC reported a 47% drop in net profit for the December quarter, citing increased expenses. Compared to the same period last year, profits fell from Rs 623.28 crore to Rs 330.13 crore. The company has declared a 14% interim dividend, with February 13, 2025, set as the record date.

State-owned hydroelectric power company NHPC has announced a significant financial setback, recording a 47% decrease in consolidated net profit for the December quarter. The profit dropped to Rs 330.13 crore, a stark contrast to Rs 623.28 crore from the previous year, primarily due to heightened expenses, NHPC revealed in a BSE filing.

The report highlighted a rise in total expenses, which surged to Rs 2,217.51 crore during the quarter, up from Rs 1,733.01 crore a year earlier. Despite this, total income saw only a marginal increase, climbing to Rs 2,616.89 crore from Rs 2,549.69 crore over the same period last year.

In response to the financial situation, NHPC's board has sanctioned an interim dividend of 14%, equivalent to Rs 1.40 per equity share, based on a Rs 10 face value per share. Shareholders on record as of February 13, 2025, will be eligible for this interim payout.

(With inputs from agencies.)