Business Standard

NHPC tumbles as PAT falls 27% YoY to Rs 492 cr in Q3


NHPC slumped 15.49% to Rs 81.34 after the power generation company reported 26.76% decline in consolidated net profit to Rs 491.90 crore in Q3 FY24 from Rs 671.67 crore recorded in Q3 FY23.
Revenue from operations decreased 20.41% year on year (YoY) to Rs 2,055.50 crore in the quarter ended 31 December 2023.
Profit before tax for the quarter was at Rs 822.52 crore, down 40.86% from Rs 1,390.72 crore posted in Q3 FY23.
On the margins front, the PSU company's operating margin reduced to 23.08% in Q3 FY24 from 38.28% posted in Q3 FY23.
Net profit margin was at 30.57% in Q3 FY24 as compared to 30.04% recorded in the corresponding quarter previous year. For nine-month basis, NHPC's consolidated net profit shed 5.3% to Rs 3,074.61 crore on 9.73% decline in revenue from operations to Rs 7,744.02 crore in 9M FY24 over 9M FY23.
Meanwhile, the company's board has recommended dividend of Rs 1.40 per equity share and 22 February 2024 has been fixed as the record date. The firm stated that dividend shall be paid/ dispatched within the period as stipulated in the Companies Act, 2013.
NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2023, the Government of India held 70.95% stake in the company.
Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 12 2024 | 3:09 PM IST

Explore News