State-run hydro power giant NHPC on Friday posted a 16 per cent rise in consolidated net profit at Rs 989.27 crore for the June quarter, mainly due to higher revenues.
The company had reported a consolidated net profit of Rs 851.70 crore in the corresponding period last year, it said in a BSE filing.
Total income rose to Rs 2,754.48 crore in the quarter under review from Rs 2,479.09 crore a year ago.
Electricity generation is the principal business activity of the company. Other operations, that is power trading, contracts, project management and consultancy works do not form a reportable segment as per the Ind AS norms, it added.
As per power regulator CERC's Tariff Regulations 2019-24, notified on March 7, 2019, the useful life of hydro generating stations has been increased from 35 years to 40 years.
This change has resulted in depreciation expense reducing by Rs 20.58 crore, NHPC added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app