NHPC Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
NHPC · price
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NHPC Limited reported strong Q1 FY26 results with standalone revenue from operations rising 23% year-on-year to ₹2,977.43 crore, up from ₹2,416.12 crore in Q1 FY25. Profit after tax (including regulatory deferral movements) grew to ₹1,071.87 crore versus ₹1,018.43 crore, with EPS at ₹1.07. On a consolidated basis, revenue stood at ₹3,213.77 crore and PAT at ₹1,131.16 crore. The jump in revenue was supported by commissioning of the 800 MW Parbati-II hydro project and 214.28 MW of the 300 MW Karnisar Solar Project during the quarter, with ₹431.17 crore recognised as unbilled sales pending CERC tariff approval. The company also recognised ₹201.23 crore of MAT credit, of which ₹183.36 crore was booked as a regulatory deferral credit. Auditors (S.N. Dhawan, S. Jaykishan, and Dharam Raj) issued an unmodified review report, and the company maintained 100%+ security cover on listed NCDs with no loan defaults.
Strong top-line growth driven by new project commissioning is a positive for shareholders, though standalone operating margin contracted to 43.10% from 48.96% YoY due to higher generation and other expenses. Investors should watch for final CERC tariff approvals for Parbati-II, which could materially boost billing and earnings visibility.