NHPC net profit dips 83% at Rs 104 crore in March quarter

State-run NHPC Ltd today reported 83% drop in its standalone net profit at Rs 104.08 crore in March quarter due to provisioning on account of clearances for projects.

The company had posted a standalone net profit of Rs 644.51 crore for the quarter ended March 31, 2015, NHPC Ltd said in a BSE filing.

A senior NHPC official said the reported profit for the March quarter has dipped due to provisioning on account of clearances of the projects.

The total income stood at Rs 1,812.55 crore for the quarter ended March 31, 2016 whereas the same was at Rs 1,653.39 crore for the quarter ended March 31, 2015.

The company posted a standalone net profit of Rs 2,440.14 crore for fiscal 2016 where as the same was at Rs 2,124.47 crore for fiscal 2015.

Total income for the entire fiscal stood at Rs 8,353.82 crore as against Rs 7663.58 crore for FY2015.

The Group posted a consolidated net profit of Rs 2,688.26 crore for fiscal 2016 as against Rs 2491.36 crore for 2014-15.

Total consolidated income was recorded at Rs 9,577.28 crore for fiscal 2016 as compared with Rs 9,157.27 crore a year ago.

In a separate filing, it said, the company's board at a meeting held on May 28, 2016, recommended for declaration of final dividend at the rate of 15% of face value of Rs 10 per share (Rs 1.5 per equity share) on the paid up share capital of the Company for the financial year 2015-16.

This is inclusive of the interim dividend at the rate of 9.2% of face value of Rs 10 per share i.E. Rupee 0.92 per equity share for 2015-16, declared in the 391st meeting of board of directors held on February 10, 2016.