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Monday, June 14, 2021

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State-owned hydro energy large NHPC on Thursday reported almost 80% bounce in its consolidated net profit to 464.6 crore for the March 2021 quarter as in contrast to 258.83 crore within the quarter ended on March 31, 2020. The complete revenue got here at 2,094.3 crore in opposition to 2,382.36 crore within the year-ago interval.

The board of administrators within the assembly additionally beneficial a remaining dividend on the fee of 3.50 per cent of a face worth of 10 per share (Re 0.35 per fairness share) on the corporate’s paid-up share capital for 2020-21.

This is as well as to the interim dividend of 1.25 per fairness share for 2020-21 paid in March 2021. The remaining dividend, if declared, shall be paid inside the statutory interval as per the Companies Act, 2013.

At round 10 am, shares of NHPC had been buying and selling 0.37% decrease to 26.95 per share on the BSE in Friday’s early offers.

The board has additionally accepted the proposal to elevate debt up to 4,300 crore through the monetary 12 months 2021-22. It shall be raised via “issuance of secured, redeemable, taxable, non-cumulative, non-convertible taxable corporate bonds in one or more series/tranches on a private placement basis and/or raising of term loans through external commercial borrowings (ECB) in suitable tranches”.

In line with the instructions of the Ministry of Power, the corporate has given a one-time rebate of 185 crore to discoms and energy departments of states and Union territories for passing on to final customers on account of COVID-19 pandemic. The mentioned rebate has been introduced as an “exceptional item” within the assertion of monetary outcomes, it added.

NHPC Chairman and Managing Director A Ok Singh mentioned in a press release, “Despite the ongoing COVID-19 pandemic, NHPC is in an aggressive mode of expansion and has all-India plans to expand its solar and wind power portfolio along with its core business of hydropower development.”

He additional added within the final monetary 12 months, NHPC has signed pacts for execution of 5 initiatives with a complete put in capability of 4,134 megawatts and “we are focussed on completing the projects as per schedule”.

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