NHPC September quarter Results: Net profit up 7% to Rs 1,387 cr

State-run hydro power giant NHPC on Thursday posted a 7 per cent rise in its consolidated net profit to Rs 1,386.81 crore in the July-September quarter compared to a year-ago period mainly on the back of higher revenues.

The consolidated net profit of NHPC was Rs 1,300.40 crore in the quarter ended on September 30, 2020, a BSE filing said.

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Total income of the company rose to Rs 3,165.59 crore in the second quarter of FY22 from Rs 3,086.03 crore in the same period a year ago.

The NHPC board also approved a proposal regarding the formation of a joint venture company between NHPC Limited and Green Energy Development Corporation of Odisha Limited (GEDCOL)) for implementation of 500 MW floating solar power projects in various water reservoirs in Odisha.

The Board has also accorded its investment approval to contribute initial equity of Rs 7.4 crore by NHPC Limited in the JV Company, to be promoted jointly by NHPC (74 per cent) and GEDCOL (26 per cent).