NHPC, the state-owned power generation company, revealed its financial results for the quarter ending September 2023, indicating a consolidated profit of Rs 1,546 crore. Despite a marginal 0.7% increase in profit compared to the previous fiscal year, NHPC showcased resilience in a challenging market environment. The company’s revenue from operations also displayed a notable uptick, rising by 11.6% year-on-year to reach Rs 2,931.3 crore during the quarter.
In addition to the financial results, NHPC disclosed a strategic move in its filing. The company’s board approved the Joint Venture Agreement for the formation of a joint venture company with Andhra Pradesh Power Generation Corporation. This collaboration aims to implement pumped storage hydro power projects and renewable energy initiatives in Andhra Pradesh, reflecting NHPC’s commitment to diversifying its energy portfolio.
NHPC, primarily known for its hydropower projects, has steadily expanded its horizons by venturing into solar, geothermal, tidal, and wind energy projects. Despite a slight dip in its stock price, with shares trading at ₹50.20, NHPC’s consistent performance and strategic initiatives underscore its long-term growth potential in the evolving energy landscape.
