102% return in 1 year: This PSU stock in focus after Q1 results

NHPC Share Price NSE, BSE: Shares of state-owned hydro power giant NHPC are in focus today as the company has reported a marginal rise in its consolidated net profit of over one per cent to Rs 1,108.46 crore in the June 2024 quarter.

NHPC Share Price Today

The counter opened slightly below the last closing price of Rs 100.45 on the BSE as benchmark indices Sensex and Nifty declined in early trade on Thursday. It fell further to Rs 98.75 amid selling pressure. Last seen, the counter was trading at Rs 99.75. 

NHPC Share Price History

This is one of the PSU stocks that has given multibagger returns to investors. According to the BSE Analytics, the counter has surged over 102 per cent in one year and over 184 per cent in two years. The scrip has surged over 50 so far this year.

NHPC Q1 Results

The company's total income has increased to Rs 3,037.92 crore in the quarter from Rs 3,010.22 crore in the same period a year ago.

The board also approved monetisation of future cash flow (return on equity) in respect of Dulhasti Power Station or any other power station(s) of the company for 8/10 years in a single tranche during the financial year 2024-25.

In a separate filing, it informed that the power ministry has appointed Raj Kumar Chaudhary, Director (Technical), NHPC, to the post of Chairman and Managing Director, NHPC Limited. The appointment is effective from August 7 till the date of his superannuation i.E. June 30, 2025, or until further orders.

The company further said that consequent to the above, Rajendra Prasad Goyal, Director (Finance), NHPC, ceases to hold the additional charge of the post of Chairman and Managing Director in the company.

Chaudhary (59) is a graduate in Civil Engineering from BIT (Sindri) and has also done Advance Diploma in Management.

He joined NHPC in 1989 as a Probationary Executive (Civil) at Koel Karo Hydro Electric Project, Jharkhand.

Chaudhary steadily rose in his career to the post of Chairman & Managing Director, NHPC. Earlier, he was also Director (Technical) of NHPC.

With PTI inputs