NHPC Reports Rs 1,693 Crore Profit in Q2, Approves Joint Venture with APGENCO

7 Nov 2023 , 12:22 PM

National Hydroelectric Power Corporation (NHPC), a Miniratna power company, reported a consolidated net profit of Rs 1,693 crore in the September quarter of FY 23-24. This marks an increase from the consolidated net profit of Rs 1,685.81 crore in the same quarter in the previous year.

NHPC’s shares closed marginally higher at Rs 50.39 per share on the BSE on the day of the announcement. The total income for the reporting quarter dipped to Rs 3,113.82 crore from Rs 3,477.93 crore recorded in the same period a year ago.

During the board meeting, NHPC approved the formation of a Joint Venture Company in partnership with Andhra Pradesh Power Generation Corporation Limited (APGENCO).

NHPC Limited, established in 1975, is a government-owned company operating under the Ministry of Power, Government of India. Its mission is to plan, promote, and organize the integrated and efficient development of hydroelectric power in India.

NHPC is primarily engaged in the construction and operation of hydroelectric power plants and has successfully developed and operates various hydropower projects across India, including the Nathpa Jhakri Hydroelectric Power Station, Bhakra Nagal Dam, Teesta Low Dam Project, and more.

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