NHPC beat estimates for Q4FY18 after reporting strong yoy expansion in margins due to a ~Rs200cr charge relating to pay revision of employees in Q4FY17. Revenue fell by 16.6% yoy to Rs1,137cr (expectation Rs1,146cr). EBITDA stood at Rs557cr, up 149.9% yoy against estimates of Rs335cr. EBIDTA margin rose by 3,265bps yoy to 49%. Net Profit stood at Rs189.4cr against an estimate of Rs118cr.
During Q4FY18, the company commissioned a 50MW of solar power project in Tamil Nadu.
Expenditure was recognised due to pay revision amounting to Rs84.1cr and Rs243cr for Q4FY18 and FY18 respectively. Expenditure recognised in Q4FY17 and FY17 due to pay revision stood at Rs199.8cr and Rs199.8cr respectively.
Other income includes late payment surcharge of Rs154.4cr and Rs385cr for Q4FY18 and FY18 respectively. Amount due but not recognized (due to doubtful recovery) stood at Rs32.1cr and Rs99.6cr for Q4FY18 and FY18 respectively.
NHPC Ltd is currently trading at Rs. 27.05, down by 0 points or 0% from its previous closing of Rs. 27.05 on the BSE.
The scrip opened at Rs. 27.10 and has touched a high and low of Rs. 27.25 and Rs. 26.95 respectively. So far 49,53,320 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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