NHPC Q3 PAT seen down 1% at Rs 297 cr

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NHPC Q3 PAT seen down 1% at Rs 297 cr

India's largest hydro power generation company NHPC is likely to report a profit after tax of Rs 297 crore in the third quarter of FY12, a fall of 1% as compared to Rs 301 crore in a year ago quarter.

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India's largest hydro power generation company NHPC is likely to report a profit after tax of Rs 297 crore in the third quarter of FY12, a fall of 1% as compared to Rs 301 crore in a year ago quarter.

Total income is seen going up by 8% to Rs 808 crore from Rs 751 crore year-on-year.

EBITDA is expected to go down by 4% to Rs 516 crore in the quarter ended December FY12 versus Rs 539 crore in the corresponding quarter of last fiscal.

Operating profit margin is expected to be at 63.85% versus 71.77% during the same period.

Expectations

- Expect top line growth on the back of higher generation YoY
* During October-November 2011, company's generation stood at 2.5 BUs; up 4% YoY

- There has been no new capacity addition in Q3FY12

Q3 is a seasonally weak quarter for hydrogenation

Uproar at Uri I and Salal continued with the J&K govt; now set to buy back the two projects from NHPC at depreciated costs
* This is in order to prevent the alleged misuse of the state water resources by NHPC
* The two projects constituted around 13% of the company's overall capacity

NHPC had plans to raise Rs 20-30 billion by end FY12:

- Funds to be raised via term loans and rupee bonds to fund construction of projects

- Expects to install new hydroprojects worth 515 megawatts by the end of FY12 Vs earlier target of about 1,100 MW

- Surpassing its target of 12.98 billion units for H1FY12

- NHPC's operating power stations generated 13.37 billion electricity units during H1FY12 ((up 3 % higher on year))