NHPC reports over 13% decline in net profit at Rs 855 cr in June quarter
State-owned hydro power giant NHPC on Monday reported over 13 per cent dip in its consolidated net profit to Rs 855.49 crore for the quarter ending June due to a rebate of Rs 185 crore given to discoms in view of COVID-19 situation.
Its consolidated net profit was Rs 989.27 crore in the quarter ended on June 30, 2019, a BSE filing stated.
Total income for the quarter under review rose marginally to Rs 2,914.02 crore from Rs 2,754.48 in the same period of last year.
About the COVID-19 situation, NHPC stated, “The company’s primary source of revenue is from (power) generation and sale of hydroelectricity. During the outbreak of COVID-19, the Government of India and State Governments have declared lockdown which have affected business in general.”
