NHPC reports 13 per cent decline in net profits in April-June 2020 quarter

NHPC has reported over 13 per cent dip in its consolidated net profit to Rs 8.55 billion for the quarter ending June 2020 due to a rebate of Rs 1.85 billion given to discoms in view of the Covid-19 situation.

Its consolidated net profit was Rs 9.89 billion for the quarter ended on June 30, 2019. Its total income for the quarter under review increased to Rs 29.14 billion from Rs 27.54 billion in the same period of last year. On the Covid situation, NHPC said that its primary source of revenue is from power generation and sale of hydroelectricity. During the outbreak of Covid, the government of India and state governments have declared lockdown which have affected business in general. The company also stated that no material impact of Covid-19 on the financial performance of the company, including interalia the carrying value of various current and non-current assets or the ability to service the debt of the company, is expected to arise.