NHPC Q3 results declared, Net profit declined by 27% to stand at Rs 491.90 crore

Public sector unit NHPC [National Hydropower Corporation] has announced its quarterly results for the October-December period posting a net profit of Rs 491.90 crore as of 2023-24.

NHPC Q3 results declared, Net profit declined by 27% to stand at Rs 491.90 crore

The company had reported a net profit of Rs 775.99 crore in the corresponding period of the previous fiscal year. The company’s total income also fell to Rs 2549.69 crore in the respective quarter as against Rs 2691.34 crore in the previous year. The expenses rose to Rs 1727.85 crore in the quarter under the review from Rs 1303.06 crore in the third quarter of the last fiscal.

The company’s board has approved an interim dividend of Rs 1.40 per equity share for the financial year 2023-24. Revenue from operation slipped to 20.42 percent in Q3 FY24 compared to Rs 2055.50 crore in the previous fiscal year.

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Following the declaration, the shares of the company plunged to a 19 percent low to hit Rs 77.71. Meanwhile, the government has launched an offer-for-sale to sell a stake in the PSU. The floor price of the OFS has been fixed at Rs 71. It will commence on 13 Feb till 16 Feb.

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