You are here: Home » Companies » Results
Business Standard

NHPC net profit down 11% to Rs 1,300 crore in September quarter

The company's primary source of revenue is from generation and sale of hydroelectricity

Topics
NHPC | Q2 results

Press Trust of India  |  New Delhi 

nhpc
Photo: Wikimedia Commons

State-owned hydropower major on Wednesday reported a 10.8 per cent fall in consolidated net profit to Rs 1,300.40 crore in the September quarter, mainly due to lower revenues.

The consolidated net profit for the year-ago period was Rs 1,457.68 crore, the company said in a BSE filing.

Total income in the September quarter declined to Rs 3,086.03 crore from Rs 3,360.35 crore in the same period last year.

The company's primary source of revenue is from generation and sale of hydroelectricity.

According to NHPC, "Power supply being an essential service and their must-run status for Run-of-the-River (ROR) projects and scheduling to the extent possible by RLDCs (regional load dispatch centres) in case of ROR with pondage and storage projects."

Citing these factors the company said, "No material impact of COVID-19 on the financial performance of the Group including interalia the carrying value of various current and non-current assets or the ability to service the debt of the company, is expected to arise."


However, the company said that in line with the directions of the Ministry of Power on May 15 and 16, 2020, it has given a one-time rebate of Rs 185 crore to discoms and power departments of States/ Union territories for passing on to ultimate consumers on account of COVID-19 pandemic.

The said rebate has been presented as an "exceptional item" in the statement of financial for the quarter ended June 30, 2020, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 11 2020. 19:48 IST
RECOMMENDED FOR YOU
.