NHPC Q2 net jumps 28% to Rs 1,555 crore on other income

State-run hydro power generator NHPC on Friday posted a net profit of Rs 1,554.6 crore for the second quarter ended September, which is a 28 per cent rise over that recorded in the same quarter a year ago, mainly on the back of other income.

NHPC had posted a net profit of Rs 1,215.7 crore for the quarter ended September 30, 2015.

The company's total income in the quarter in question rose 21.36 per cent to Rs 3,281.22 crore, over the Rs 2,703.70 crore in the corresponding quarter of 2015.

Revenue during the quarter grew by 2.5 per cent to Rs 2,403.4 crore from Rs 2,345 crore in same period of the last fiscal.

EBITDA (earnings before interest, tax, depreciation and amortisation) increased 0.5 per cent to Rs 1,559.5 crore.

Margin during the quarter in consideration, however, dipped by 130 basis points to 64.9 per cent.

NHPC said in a statement here that in view of the seasonal nature of business, the financial results of the quarter ended September may not be comparable with the same quarter of 2015.

Other income jumped to Rs 888 crore in July-September quarter, compared with Rs 359 crore in same period a year-ago, while tax expenses increased 66.7 per cent compared to last year to Rs 369.6 crore.

NHPC board of directors on Friday approved the proposal for raising of Rs 2,250 crore through issue of V series corporate bonds on private placement basis, the statement said.

This is a part of the Rs 4,500 crore already approved by shareholders in the annual general meeting (AGM) held in September.

With results being announced during market hours, NHPC stock closed on Friday at Rs 26.30 a share, up 1.20 points, or 4.78 per cent, over its previous close on the Bombay Stock Exchange.

--IANS

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