State-run hydropower generation company NHPC's second quarter profit jumped 28 percent year-on-year to Rs 1,554.6 crore, driven largely by other income.
Revenue during the quarter grew by 2.5 percent to Rs 2,403.4 crore from Rs 2,345 crore in same period last fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) increased 0.5 percent to Rs 1,559.5 crore but margin contracted by 130 basis points to 64.9 percent in the quarter gone by.
Other income shot up significantly to Rs 888 crore in July-September quarter compared with Rs 359 crore in year-ago period while tax expenses increased 66.7 percent YoY to Rs 369.6 crore.
NHPC said the board of directors today has approved the proposal for raising of Rs 2,250 crore through issuance of V series corporate bonds on private placement basis. It is a part of Rs 4,500 crore already approved by shareholders in annual general meeting held in September.
At 15:18 hours IST, the stock was quoting at Rs 26.25, up Rs 1.15, or 4.58 percent on the BSE.
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