NHPC Q2 net profit drops 9.67% to Rs 707.58cr
Total income of NHPC during Q2, 2013-14 decreased to Rs 1,950.23 crore, from Rs 2,013.26 crore in the year-ago period.
November 12, 2013 / 20:26 IST
State-run NHPC reported 9.67 percent drop in net profit to Rs 707.58 crore for the second quarter ended September 30, 2013-14 fiscal.
The company had reported net profit of Rs 783.38 crore in the July-September quarter of the previous fiscal 2012-13, NHPC said in a regulatory filing to the stock exchanges. Total income of the company during Q2, 2013-14 decreased to Rs 1,950.23 crore, from Rs 2,013.26 crore in the year-ago period. The company's board has approved the buyback of up to 10 percent of fully paid-up equity shares of Rs 10 each for an aggregate amount of nearly Rs 2,400 crore. Since the government holds 86.36 percent stake in NHPC, buyback of shares on proportional basis would mean government getting about Rs 2,000 crore. 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!
