NHPC Shares In Red After Profit Crashed 16% In Q4

  • Benzinga India
  • Stock Market News
NHPC Shares In Red After Profit Crashed 16% In Q4
Credit: © Reuters.

Benzinga - NHPC (NS: NHPC )‘s share price slumped in the red on Saturday ending its two-day gaining streak as the company’s Q4 numbers disappointed investors.

What Happened: The PSU's net profit for the March quarter came in at ₹549.81 crore, down around 16% from ₹656.73 crore posted in the same quarter last year. Revenue from operations was at ₹1,888.14 crore, down around 7% from ₹2,028.77 crore posted in the corresponding quarter of last year.

EBITDA for the January-March period fell 1.4% to ₹885.4 crore compared to the ₹898.4 crore in the corresponding period in the previous year. EBITDA margin stood at 47% in the reporting quarter compared to 44.3% in the corresponding period in the previous fiscal.

NHPC stands as the largest hydropower company in India, operating under the administrative purview of the Ministry of Power. Earlier in the week, the company was included in the MSCI Global Standard Index. The company is set to witness an inflow of $234 million (around ₹1953 crore) through this inclusion.

Price Action: NHPC's share price was down 2.17% to trade at ₹97.10 as the markets opened on Saturday.

Read Next: JSW Steel (NS: JSTL ) Q4 Profit Tanks 64% To ₹1,299 Cr

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