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NHPC Ltd. reported stable earnings in Q1 FY22.
Standalone reported profit after tax was up 26.3% at Rs 9.1 billion, mainly due to higher other income.
However, adjusted profit after tax was up 7.6% YoY (due to Rs 1.85 billion Covid-19 related rebate on fixed charges taken in Q1 FY21).
Standalone reported revenues / Ebitda was Rs 21.7 billion / Rs 12.8 billion, down 13.8% / 10% YoY respectively.
While generation declined 11% YoY to 7,243 million unit in Q1 FY22, mainly due to late monsoons resulting in lower water flow and shutdown of all units of Sewa-II, Q2 FY22 has so far witnessed 450 million unit higher generation YoY.
NHPC’s under construction hydro projects are progressing well and it has become aggressive on renewables, committing to five gigawatt owned renewable energy capacity by FY25.
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