NHPC gets ₹250 Crore payment under Mega Insurance Policy

3 Jan 2025 , 09:44 AM

NHPC Ltd, India’s largest hydropower company, has received the second on-account gross payment of ₹250 Crore under its Mega Insurance Policy. This reimbursement is for the business interruption (BI) loss caused by a flash flood at the Teesta-V Power Station (510 MW) on October 4, 2023.

Last August, a landslide at the Teesta-V Power Station (510 MW) damaged parts of the Tail Race Tunnel (TRT), and a catastrophic flash flood in the Teesta Basin in October 2023 forced the Teesta-5 power station to shut down completely. Restoration work is still expected to be finished by March 2025.

In the second quarter of FY26, NHPC’s net profit decreased by 41.2% to ₹909 Crore from ₹1,546 Crore in the same quarter last year. However, revenue increased by 4.1% to ₹3,052 Crore from ₹2,931.3 Crore in the same period last year.

The company’s operational revenue in Q1 was ₹2,694 Crore, up from the previous quarter. In Q2, EBITDA increased by 1.7% to ₹1,799 Crore, up from ₹1,768.4 Crore in Q2 FY24. However, margins decreased to 58.9% from 60.3% a year ago, indicating some pressure on operational efficiency.

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