NHPC net profit plunges 73% to Rs 182 cr in Q3 on lower revenues; company's board approves interim dividend

New Delhi: State-owned hydro power giant NHPC reported 73.51 percent decline in its standalone net profit to Rs 182.18 crore in the quarter ended 31 December, on lower revenues.

The standalone net profit stood at Rs 687.93 crore in the same quarter previous fiscal, the company said in a statement.

The NHPC’s total revenues came down to Rs 1,691.22 crore in third quarter from Rs 2,066.11 crore a year ago, the statement said.

In April-December period, the company’s net profit also came down to Rs 2,138.26 crore from Rs 2,569.23 crore in same period last fiscal.

During the nine months its revenues also declined to Rs 6,899.71 crore from Rs 6,988.87 crore a year ago.

The NHPC’s net profit was Rs 2,758.65 crore in 2017-18.

Besides approving results, the company board also approved interim dividend at the rate of 7.10 percent (Rs 0.71 per equity share) on the face value of paid-up equity shares of 10 each for 2018-19.

The board has fixed 20 February, 2019 as the record date for ascertaining eligibility of shareholders for payment of interim dividend.