NHPC’s earns highest ever profit of Rs 3233 Crore during FY 2020-21

Lokawaaz,June 12,2021:

NEW DELHI:

The NHPC Limited, India’s premier hydropower company and a ‘Mini Ratna’ Category-I Enterprise under Ministry of Power has reported highest ever net profit after tax of Rs 3233.37 Crore on standalone basis in the FY 2020-21 compared to Rs 3007.17 Crore for the last fiscal year.

The NHPC declared this in its Audited Financial Results for the Financial Year 2020-21. The Board of Directors approved the Audited Financial Results for FY 20-21 in the e-meeting held yesterday.

NHPC disclosed that revenue from operation for the FY 2020-21 stood at Rs 8506.58 crore compared to Rs 8735.15 crore in the last fiscal year. Consolidated net profit for 2020-21 stood at Rs 3582.13 crore, compared to Rs 3,344.91 crore in 2019-20. The total income of the group in 2020-21 was Rs 10,705.04 crore as against Rs 10,776.64 crore in 2019-20. Despite ongoing Covid-19 pandemic, NHPC Power Stations achieved generation of 24471 Million Units (MU) in FY 2020-21.

The Board of Directors have also recommended final dividend of Rs 0.35/- per share for Financial Year 2020-21 in addition to interim dividend of Rs 1.25/- per share already paid by the Company in March 2021. The total dividend payout for FY 20-21 is Rs 1607.21 crore as compared to total dividend payout of   Rs 1506.76 crore for FY 19-20.  NHPC, today has about seven lakh shareholders.  Shri A.K. Singh, CMD, NHPC said that despite the ongoing Covid-19 pandemic, NHPC is in an aggressive mode of expansion and has all-India plans to expand its solar and wind power portfolio along with its core business of hydropower development. He further added that in the last financial year, NHPC has signed MOUs for execution of 5 projects with total installed capacity of 4134 MW and we are focused on completing the projects as per schedule.

NHPC has established dialogues with concerned authorities across all levels towards exploring newer avenues for development of Hydropower, Solar and Wind projects. NHPC recently formed a joint venture company, “Ratle Hydroelectric Power Corporation Limited” with Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) for the implementation of  850 MW Ratle Hydroelectric Project. NHPC has also taken over Jal Power Corporation Ltd., for development of 120 MW Rangit Stage-IV Hydroelectric Project in Sikkim.

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