NHPC Q1 net profit falls 15% to Rs 670 cr
State-owned hydro power producer NHPC's net profit fell by 15.3% year-on-year and 16.5% quarter-on-quarter to Rs 670 crore in the quarter ended June 2012.
August 07, 2012 / 14:05 IST
State-owned hydro power producer NHPC's net profit fell by 15.3% year-on-year and 16.5% quarter-on-quarter to Rs 670 crore in the quarter ended June 2012.
Total income from operations, which was better than expectations, too declined 3.32% YoY and 1.5% QoQ to Rs 1,421.83 crore during the same quarter.Analysts had expected net sales of around Rs 1,175 crore, which were expected to remain under pressure due to weak monsoon and 3.3% YoY decline in generation.Sales better than forecast was due to many extra ordinaries items, which included Rs 11 lakh on account of earlier year sales arising out of finalization of tariffs, Rs 203.94 crore on account of re-imbursement of water cess, and Rs 2.07 crore towards recovery of fees and charges relating to regional load dispatch centres.Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 5% to Rs 904 crore and EBITDA margin was down by 135 basis points to 63.6% during the same period.According to the release, out of initial public offering proceeds of Rs 6,038.55 crore made during the FY10, Rs 2012.85 crore was paid to the government and Rs 4025.70 crore was retained by the company. Out of Rs 4025.70 crore, a sum of Rs 2214.99 crore has been utilised till June 2012 by the company for re-coupment of capital expenditure already incurred from internal accruals on the projects. The balance Rs 1,772 crore has been invested in bank deposits. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
