NHPC Ltd, a state-owned hydropower major, has reported a net profit of ₹189.42 crore for the fourth quarter of the financial year 2017-2018. This is higher than the net profit of ₹168.42 crore reported for the corresponding quarter of the financial year 2016-2017.
The higher profit is despite a dip in revenue that fell to ₹1434.43 crore during the quarter ending March 2018. Comparably, revenue stood at ₹1604.99 crore for the quarter ended March 2017.
“The revenue decline is because we got lower rainfall and snowfall during the winter season. And consequently, in the last quarter, our generation was down by almost 30 per cent as compared to the last year,” Balraj Joshi, Chairman & Managing Director, told reporters.
“We saved ₹150 crore on the interest during the year and ₹168 crore on other expenses during the year. So our total expenditure from various accounts has been reduced by ₹349 crore compared to the earlier year. So because of the reduction in expenditure, the impact on the bottom line has been muted,” Joshi added.
The board has recommended the payment of final dividend at 2.8 per cent of face value of ₹10 per equity share (₹0.28 per share) on the paid-up share capital of the company for the financial year 2017-2018.
This is in addition to the interim dividend of ₹1.12 per equity share already declared in February 2018, thereby making total dividend for the financial year 2017-2018 to ₹1.40 per equity share, on the face value of ₹10 each.