NHPC reports marginal Q2FY24 profit, stocks trade lower
- Hot Stocks
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Revenue from operations also increased by 11.6 percent YoY to Rs 2,931.3 crore during the quarter.
The State-owned NHPC primarily deals in developing hydropower but over the years has diversified into solar, geothermal, tidal, and wind energy projects.
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Shares of NHPC fell 0.4 percent to Rs 50.30 at open today, on November 7, a day after the power generation company reported a Rs 1,546-crore consolidated profit for Q2FY24. The results were announced post market hours. At close on November 6, NHPC was trading at Rs 50.40, around 0.5 percent higher. By 10 am, the stock was trading at Rs 50.05, nearly 0.7 percent lower than yesterday’s close.
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NHPC, the state-owned power generation company, reported in an exchange filing a consolidated profit at Rs 1,546 crore for the quarter ending September 2023, rising 0.7 percent year-on-year over the last fiscal. Revenue from operations also increased by 11.6 percent YoY to Rs 2,931.3 crore during the quarter.
In the filing, NHPC has also said that the board has approved the Joint Venture Agreement for formation of joint venture company, between NHPC and Andhra Pradesh Power Generation Corporation, for implementation of pumped storage hydro power projects and renewable energy projects in Andhra Pradesh.
Also read: NHPC net profit rises marginally to Rs 1,693 crore in Q2
The State-owned NHPC primarily deals in developing hydropower but over the years has diversified into solar, geothermal, tidal, and wind energy projects.
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