Mumbai: NHPC Limited (BSE: 533098, NSE: NHPC), the Government of India's premier hydropower company, today announced its unaudited financial results for the quarter and nine months ended December 31, 2025.
In a meeting held today, the Board of Directors approved several key decisions, including the declaration of an interim dividend and the unaudited financial results.
Financial Performance Snapshot (Consolidated)
For the third quarter of FY26 (Q3), NHPC's consolidated Total Income stood at ₹2,493 crore. The company reported a consolidated Profit After Tax (PAT) of ₹321 crore for the quarter. For the nine-month period (April-December 2025), consolidated Total Income was ₹9,566 crore with a PAT of ₹2,671 crore.
The standalone performance showed a PAT of ₹293 crore for Q3 and ₹2,290 crore for the nine-month period.
Key Announcements from the Board Meeting
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Interim Dividend: The Board declared an interim dividend of 14% (₹1.40 per equity share) on the face value of ₹10 each for the financial year 2025-26. The Record Date for determining shareholder eligibility has been fixed as Tuesday, February 10, 2026. The dividend will be paid within the stipulated timeline under the Companies Act, 2013.
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Project Updates & Regulatory Impact:
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The 800 MW Parbati-II Project was commissioned in April 2025.
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The 300 MW Karnisar Solar Power Project in Bikaner was commissioned during the nine-month period.
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One unit (250 MW) of the 2,000 MW Subansiri Lower Project was commissioned in Q3 FY26, with a second unit commissioned on February 1, 2026.
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A significant one-time charge of ₹781.45 crore was recorded in Q3 towards Associated Transmission System (ATS) charges for the Subansiri Lower Project, as per a CERC order dated January 16, 2026. This amount, recoverable from beneficiaries in future tariffs, has been recognized as a Regulatory Deferral Account balance, impacting the quarterly net profit.
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Strategic Decisions:
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JV Cancellation: The Board approved the cancellation of the Memorandum of Understanding (MoU) and Promoters’ Agreement with Green Energy Development Corporation of Odisha Ltd. (GEDCOL) for forming a Joint Venture to implement floating solar projects in Odisha.
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Exit from PTC India: Following a Ministry of Power directive, the Board approved the withdrawal of NHPC's Nominee Director from the Board of PTC India Limited and the relinquishment of NHPC's status as a 'Promoter' of PTC.
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Merger Update: The process for the merger of wholly-owned subsidiary Jalpower Corporation Limited (JPCL) with NHPC is ongoing. The second motion application has been filed with the Ministry of Corporate Affairs (MCA) in October 2025.
Management Commentary
"The quarter witnessed steady operational progress with the commissioning of new units. The one-off regulatory charge for the Subansiri transmission system has impacted the quarterly profitability, but this is a recoverable item aligned with tariff regulations. We remain committed to our growth trajectory and are pleased to reward our shareholders with an interim dividend, reflecting our confidence in the company's fundamentals," said Shri Mahendra Sharma, Director (Finance) & CFO, NHPC.
Other Compliance Highlights
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The company reported no defaults on any loans or debt securities.
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The auditors have issued a clean review report on the unaudited financial results.
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A certificate confirming adequate asset cover for listed debt securities as of December 31, 2025, has been submitted.
The detailed results and review reports are available on the company's website at www.nhpcindia.com and on the stock exchange platforms.
About NHPC Limited:
NHPC Limited, a 'Navratna' Enterprise of the Government of India, is the country's leading organization for hydropower development. With a significant portfolio of operational and under-construction projects across India, NHPC plays a pivotal role in the nation's renewable energy sector.