Stocks

NHPC surges nearly 3% post Sep qtr results

PTI Mumbai | Updated on January 22, 2018 Published on November 10, 2015

Shares of state-run NHPC today ended nearly 3 per cent higher after the company posted a 72.62 per cent jump in net profit in the September quarter.

After rising 5.61 per cent to Rs 18.80 intra-day, the stock finally ended at Rs 18.30, up 2.81 per cent, on BSE.

On NSE, shares of the company gained 2.52 per cent to settle at Rs 18.25.

In terms of volume, 12.68 lakh shares of the company changed hands at BSE and over 94 lakh on NSE during the day.

NHPC yesterday posted a 72.62 per cent rise in net profit at Rs 1,180.84 crore for the September quarter even as the company announced that it is in talks with private firms to buy stake in hydropower projects in Arunachal Pradesh.

“The company got the offer from private players (implementing projects) from Subansiri basin to come (join) as a joint venture partner,” NHPC CMD K M Singh said.

Singh also confirmed that NHPC is in touch with the Arunachal Pradesh government, which has now asked the company to implement certain ongoing projects in the state.

Total income was Rs 2,679.44 crore for the said quarter compared with Rs 2,325.01 crore a year earlier.

Published on November 10, 2015
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