NHPC Q2 net up 28% at Rs 1,554 crore

State-run NHPC today posted 27.8 per cent increase in standalone net profit to Rs 1,554.6 crore for the September quarter.

It had posted net profit of Rs 1,215.6 crore in the July- September period of last fiscal, NHPC said in a BSE filing.

Its total income from operations increased to Rs 2,403.3 crore, over Rs 2,344.9 crore in the year-ago period.

The company's total expenses during the quarter under review increased to Rs 1,185.9 crore, over Rs 1,128.3 crore in the year-ago period.

A 'mini ratna' firm, NHPC is the country's premier hydropower player. In 2015-16, its power stations achieved generation of 23,404 million units.

NHPC is setting up five projects with total installed capacity of 4,290 mw, including 1,000 mw Pakal Dul project being executed through a JV company.

About 10 projects of 7,151 mw are awaiting clearances/ government approval for their implementation including three projects of 1,186 mw to be executed through subsidiary/joint venture companies.

In another BSE filing, the company stated that its board has approved raising of Rs 2,250 crore through issuance of "V" series corporate bonds on private placement basis.

This bond issue is part of the proposal to raise Rs 4,500 crore that was approved by shareholders in the 40th Annual General Meeting held on September 22, 2016.