NHPC earns highest ever standalone net profit of Rs 3,007 crore during FY’20

New Delhi: NHPC Limited, India's premier hydropower company and a Miniratna PSU under the Ministry of Power, has declared its audited financial results for the financial year FY'20. The board of directors of the company have approved the audited financial results for FY'20 in the e-meeting held on June 27 at Faridabad. This information has been shared by the company in a press release. NHPC has reported net profit after tax (PAT) of Rs 3,007.17 crore on a standalone basis in the FY'20 compared to Rs 2,630.55 crore for the previous fiscal year. Sales for the FY'20 stood at Rs 8,735.41 crore to Rs 8,161.18 crore in the last fiscal year. Consolidated profit for 2019-20 stood at Rs 3,324.72 crore before non-controlling interest compared to Rs 2,835.79 crore in 2018-19. Consolidated total income of the company in 2019-20 is Rs 10,776.64 crore as against Rs 9,846.81 crore in 2018-19.

NHPC's power stations have achieved highest ever generation of 26,121 million units (MU) in FY'20 as compared to 24,193 MUs in FY'2018-19.

The board of directors have also recommended a final dividend of Rs 0.32 /- per share for FY'20 in addition to the interim dividend of Rs 1.18/- per share already paid by the company in March. The total dividend payout for FY'20 is Rs 1,506.76 crore as compared to a total dividend payout of  Rs 1,466.58 crore for FY'19.  As per today, NHPC has about seven lakh shareholders.

NHPC Limited's CMD AK Singh said, "NHPC has set a target of 10,000 MW installed capacity by 2022 and 13,000 MW installed capacity by 2024 from its current installed capacity of 7,071.2 MW. In addition, we have pan-India plans to expand NHPC's solar and wind power portfolio along-with its core business of hydropower development and we are striving to achieve an additional solar capacity of 5,000 MW by 2022 through these sources."

NHPC is currently on an aggressive expansion mode and has established dialogues with concerned authorities across all levels towards exploring newer avenues for the development of Hydropower, Solar and Wind projects. NHPC recently held a meeting with the government of Himachal Pradesh for the execution of 449 MW Dugar Hydroelectric Project, 260 MW Sach Khas, 130 MW Rashil and 104 MW Tandi in the state. A meeting was also held with the government of Sikkim for the execution of 500 MW Teesta-VI, 120 MW Rangit-IV and 520 MW Teesta-IV to be executed by NHPC.

NHPC has recently signed an MOU with Hydropower Investment and Development Company Limited, Nepal for jointly developing hydropower projects in Nepal. NHPC has also held meetings with top officials for the development of solar projects in Andhra Pradesh, Uttar Pradesh and Union Territory of Ladakh and exploring in Rajasthan also.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)