State-run NHPC today reported a 31 per cent decline in standalone net profit at Rs 168.42 crore in the fourth quarter ended March, due to lower income.
The company's standalone net profit was Rs 245.48 crore in the corresponding quarter of 2015-16, NHPC Ltd said in BSE filing.
According to statement, the company's total income was down at Rs 1,604.99 crore in the fourth quarter from Rs 1,869.88 crore in the year-ago period.
However, the company's standalone net profit for 2016-17 was also up at Rs 2,795.59 crore as compared to Rs 2,429.89 crore in the previous fiscal. The total income during last fiscal was Rs 8,729.84 crore, up from Rs 8,345.07 crore in 2015-16.
The board in its meeting held today also recommended a final dividend at the rate of 18 per cent of face value of Rs 10 per cent share (Rs 1.80 per share) for 2016-17.
This final dividend is inclusive of the interim dividend at the rate of 17 per cent of face value of Rs 10 per share (Rs 1.7 per share).
The company said that the government has divested its 11.45 per cent stake last fiscal which reduced its holding to 74.51 per cent from 85.96 per cent.
The board has also approved the proposal to raise Rs 1,756 crore by issuance of "W" series corporate bonds on private placement basis which is out of the Rs 4,500 crore already approved by shareholders in Annual General Meeting held on September 22, 2016.
Disclaimer: No Business Standard Journalist was involved in creation of this content
