NHPC declares interim divided even as net profit declines nearly 13%
1 min read . Updated: 08 Feb 2023, 03:16 PM IST
Premium- NHPC shares were trading nearly a per cent lower at ₹40 apiece on the BSE on Wednesday
State-owned hydro power giant NHPC Ltd has posted a nearly 13% year-on-year (YoY) decline in its consolidated net profit to ₹776 crore for the third quarter ended December 2022 for the current fiscal (Q3 FY23), as compared to ₹888 crore in the year-ago quarter. Shares of NHPC were trading nearly a per cent lower at ₹40 apiece on the BSE on Wednesday.
Its total income rose to ₹2,582 crore in the quarter, up nearly 20% from ₹2,156 crore a year ago whereas expenses increased to ₹1,303 crore from ₹1,259 crore in the year-ago period.
The board of the company has also announced the interim dividend at the rate of 14 per cent ( ₹1.40 per equity share) on the face value of paid-up equity shares of ₹10 each for the financial year 2022-23.
“Payment of interim dividend at the rate of 14% ( ₹1.40/- per equity share) on the face value of paid-up equity shares of ₹10/- each for the financial year 2022-23. Pursuant to Regulation 42 of SEBI LODR, the Board has fixed 17.02.2023 as record date for the purpose of ascertaining eligibility of shareholders for payment of interim dividend. The interim dividend shall be paid/ dispatched within the period as stipulated in the Companies Act, 2013," the company informed in the exchange filing.
NHPC has declared an equity dividend amounting to ₹1.81 per share in the past 12 months and at the current share price, this results in a dividend yield of 4.50%, as per data by stock analytics platform Trendlyne.
NHPC Ltd. (Formerly known as National Hydroelectric Power Corporation Ltd.) was incorporated in 1975 under Companies Act, 1956. The company is mandated to plan, promote and organize an integrated development of power in all its aspects through Conventional and Non-Conventional Sources in India and abroad. NHPC shares have risen more than 36% in a year's period.
