New Delhi: State-owned hydropower developer NHPC has reported a 52 per cent growth in its consolidated net profit to Rs 919.63 crore for the March quarter, driven by increased income.
It posted a net profit of Rs 605 crore in the January-March period of the preceding 2023-24 fiscal year, the company said in an exchange filing on Tuesday.
NHPC increased its income to Rs 2,672.11 crore, from Rs 2,320.18 crore in the same quarter a year ago.
However, for the entire FY25, the net profit declined by around 15 per cent to Rs 3,411.73 crore, from Rs 3,999.54 crore in FY24.
The company's board has recommended a final dividend of Re 0.51 per equity share of face value Rs 10 for the financial year 2024-25, subject to shareholders' approval at the upcoming Annual General Meeting.
This is in addition to the interim dividend of Rs 1.40 per equity share for the FY 2024-25 paid in March 2025.
In April, the company commissioned the 800 MW Parbati-11 HE Project (hydroelectric) and 107.14 MW (out of a total of 300 MW) Karnisar Solar Power Plant. NHPC said that in October 2023, there were certain losses to the assets and consequential generation loss in Teesla-V, Teesta Low Dam - Ill & Teesta Low Dam - IV Power Stations owing to a flash flood in river Teesta.
Subsequently, in August 2024, another incident of landslide with certain consequential losses occurred at Teesta-V Power Station.
These losses are covered under Mega Insurance Policy and claims in this regard have been filed with the Insurance Company.
Accordingly, 'Other Income' for the quarter and financial year ended March 31, 2025 amounting to Rs 44.34 crore and Rs 108.59 crore, respectively, and 'Other Expenses' amounting to Rs 28.66 crore and Rs 99.73 crore for the quarter and financial year ended March 3 1, 2025, respectively, have been recognised in respect of 'Material Damage'.
Further, income on account of realisation of loss due to Business Interruption amounting to Rs 111 .52 crore and Rs 409.02 crore has been recognised in 'Other Income' during the quarter and financial year ended March 31, 2025, respectively, on the basis of confirmation received from Insurance Company.
NHPC, under the Ministry of Power, is the largest hydropower development organisation in India, with capabilities to undertake all the activities from conceptualisation to commissioning of hydro projects.
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