Miniratna Power Sector Stock Net Profit Zooms 7% to Rs 1,053 cr in Q1, Shares Dip 3%

State-run NHPC on Wednesday posted over 7 per cent increase in its consolidated net profit to Rs 1,053.76 crore in the June quarter on the back of higher revenues, according to a PTI report.

The consolidated net profit of the power producer was Rs 982.86 crore in the quarter ended on June 30, 2021, a BSE filing showed. Total income of the company rose to Rs 2,990.86 crore in the quarter from Rs 2,586.91 crore in the same period a year ago, as per the PTI report.

The stock reacted negatively as it declined more than 3% in trading today. The current market price of the stock is Rs 33.95 apiece. The 52-week high of the stock is Rs 37.55 apiece and 52-week low is Rs 25.25 apiece. The market capitalization is Rs 34,102.89 crore.

The company has also declared an equity dividend of 5% or 0.50 per share on May 25, 2022 and today the stock turned ex-dividend. The company has maintained a good dividend track record and regularly declared dividend in the last 5 years.

The company declared an equity dividend of 18.10% or 1.81 per share for the year ending March 2022. The dividend yield is 5.33%.

As on date NHPC Limited has become the largest organisation for hydropower development in India, with capabilities to undertake all the activities from conceptualization to commissioning in relation to setting up of hydro projects. NHPC Limited has also diversified in the field of Solar & Wind power.

NHPC Limited presently has an installation base of 7071.2 MW from 24 power stations including two no's projects in JV mode. Considering the impediments faced during execution of these projects such as unfavourable geological conditions, difficult law and order problems, inaccessible and remote locations, the achievement so far is commendable.