NHPC Q3 results: Profit declines 19% to Rs 628 crore on higher expenses

State-owned NHPC on Monday posted a 19 per cent fall in its consolidated net profit to Rs 628.44 crore for the October-December quarter of 2023-24 due to higher expenses.

The hydro-power producer had reported a net profit of Rs 775.99 crore in the October-December period of 2022-23, the company said in an exchange filing.

The company's total income also fell to Rs 2,549.69 crore in the quarter from Rs 2,691.34 crore a year ago.

Expenses rose to Rs 1,727.85 crore in the quarter under review from Rs 1,303.06 crore in the third quarter of the last fiscal.

The board of the company approved an interim dividend of Rs 1.40 per equity share for the financial year 2023-24. It fixed February 22 as record date for the purpose of ascertaining eligibility of shareholders for payment of interim dividend.

NHPC, under the Ministry of Power, is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydro projects.

The Faridabad-based company has also diversified into solar and wind energy development.