NHPC Q2 PAT seen up 16% to Rs 791cr, revenue may be muted

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State-run hydro power company NHPC's second quarter profit is seen rising 15.6 percent year-on-year to Rs 791 crore and revenue may increase 1.4 percent to Rs 2,128 crore, according to analysts polled by CNBC-TV18.

Operating profit is likely to rise 6.3 percent to Rs 1,370 crore and margin may expand 298 basis points to 64.36 percent compared to year-ago period.

Tariff realisation is expected to increase 4.2 percent year-on-year to Rs 2.6/Kwhr. Modest increase in realisation may be owing to weak power demand and most of its projects are sold.

Analysts expect lower plant availability factor, increase in depreciation & amortization expenses and low operation of few projects to lead to under recovery of fixed cost. Many projects for NHPC (3.3 GW) are under construction, which are unlikely to be commissioned till FY17 and thus, offer no growth over FY15-17, say analysts.