State-Run NHPC Reports Highest-Ever Standalone Net Profit Of Rs 3,233 Crore In FY21 Despite COVID Challenges

State-Run NHPC Reports Highest-Ever Standalone Net Profit Of Rs 3,233 Crore In FY21 Despite COVID ChallengesNHPC logo (Pic Via Twitter)

State-run National Hydropower Corporation (NHPC) Limited 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, a company statement said on Thursday (10 June).

NHPC Limited, which India’s premier hydropower company and a ‘Mini Ratna’ Category-I Enterprise under Ministry of Power, has declared 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 on Thursday.

"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," the company said.

Despite ongoing Covid-19 pandemic, NHPC power stations achieved generation of 24,471 Million Units (MU) in FY21, it added.

The company added that the board of directors have also recommended final dividend of Rs 0.35 per share for FY21 in addition to interim dividend of Rs 1.25 per share already paid by it 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," the company said.

NHPC chairman and managing director A K Singh 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 alongwith 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 focussed 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 and Kashmir State Power Development Corporation Ltd (JKSPDC) for the implementation of 850 MW Ratle Hydroelectric Project.

NHPC has also taken over Jal Power Corporation Limited, for development of 120 MW Rangit Stage-IV Hydroelectric Project in Sikkim, it added.

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