Guwahati: State-owned NHPC Ltd reported an 18 percent fall in consolidated net profit to Rs 611 crore during the March quarter due to decline in revenues on Friday. The company in an exchange filing disclosed that it had reported a net profit of Rs 745.27 crore in the year-ago period.
Reports stated that the company's operating revenue fell to Rs 1,888.14 crore from Rs 2,028.77 crore in the January-March quarter of the fiscal year 2022–23.
The decline in net profit came alongside a reduction in revenue from operations, which fell to Rs 1,888.14 crore from Rs 2,028.77 crore in the January-March period of the 2022-23 fiscal. NHPC's expenses during the quarter were reported at Rs 1,393.67 crore, down from Rs 1,545.48 crore in the same period last year.
For the entire fiscal year, NHPC recorded a net profit of Rs 4,028.01 crore, compared to Rs 4,260.83 crore in the previous year.
Additionally, the company's board approved a final dividend of Rs 10 per equity share for the fiscal year 2023-24, indicating confidence in its financial position and commitment to shareholders.
The NHPC has several key projects in the resource-rich Northeast Indian region. Earlier this year, Indian Prime Modi laid the foundation stone for the 2,880 MW Dibang Multipurpose Hydropower Project of NHPC Limited in the Lower Dibang Valley district of Arunachal Pradesh.
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