NHPC Q3 Review - Good Earnings Buoyed By One-Time Gains: ICICI Securities

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ICICI Securities Report

NHPC Ltd. has reported an excellent set of numbers in Q3 FY21.

Standalone reported revenue/Ebitda/profit after tax for the quarter was Rs 20.9 billion/Rs 11.8 billion/Rs 8.1 billion, up 16.6%/27%/100.2% YoY, respectively.

However, the adjusted standalone profit after tax was Rs 4.6 billion, up 13.4% YoY.

The quarter’s performance takes the company’s nine months FY21 reported/adjusted earning per share to Rs 2.8/Rs 2.6 (up 7.8%/0.3% YoY), which, considering the company had provided Rs 1.9 billion rebate on fixed cost in Q1 FY21, is a significant achievement.

The company has also declared an interim dividend of Rs 1.25/share (implying 5.1% dividend yield at current market price).

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