NHPC Announced Its Fourth Quarter Result

NHPC is a Government of India undertaking company engaged in hydropower development. Besides this the company is into contracts, project management and consultancy works. It has 18 Power Stations, 4 construction projects in 7 states across the country and has an installation base of 6507 megawatts from 21 hydropower stations. NHPC commissioned two projects in neighbouring countries like Nepal and Bhutan.

Fourth quarter result

NHPC's latest fourth quarter result has been satisfactory as compared to the same quarter in the previous financial year. NHPC's total income has increased by 31.06 per cent and stands at Rs 1472 crore in Q4FY15 on yearly basis because of higher power generation. Total expenditure of the company has decreased by 59.96 per cent from Rs 1497 crore in Q4FY14 to Rs 599 crore in Q4FY15. The total expenditure decreased primarily due to a 77.86 per cent reduction in other expenses, a 23.9 per cent reduction in employee cost, a 16.22 per cent reduction in water usage expense during the same period.

EBITDA of NHPC was Rs 872 crore in Q4FY15 against loss of Rs 374 crore in Q4FY14. The company's profit margins improved from negative to positive in Q4FY15 on yearly basis. The PBT was Rs 938 crore in Q4FY15 because of the rate regulated income of Rs 522 crore for Subansiri Lower Project during the same period. Interest expense declined by 56.17 per cent to Rs 278 crore in Q4FY15 and other income also decreased by 72.28 per cent to Rs 182 crore during the quarter on yearly basis. NHPC's PAT was Rs 645 crore in Q4FY15 compared to loss of Rs 707 crore in Q4FY14. The company's PAT margin was 43.8 per cent in Q4FY15.

Full year result

NHPC announced consolidated financial results of FY 2015. Total income of NHPC rose by 11.17 per cent from Rs 7416 crore in FY14 to Rs 8244 crore in FY15 with a 18.57 per cent increment in power generation about 21800 million units during the year. 

Total expenditure of the company decreased by 15.78 per cent to Rs 2973 crore in FY15 compared to previous financial year. The total expenditure reduced mainly due to a 43.74 per cent reduction in other expenses during the same period. However, there was a 20.63 per cent increment in the water usage expense and 8.13 per cent increment in the employee cost in FY15 on yearly basis.

NHPC's EBITDA increased by 35.65 per cent from Rs 3886 crore in FY14 to Rs 5271 crore in FY15. EBITDA margin of the company expanded by 1154 basis points to 63.94 per cent in FY15 on yearly basis. The PBT boosted by 47.05 per cent to Rs 3718 crore in FY15 on yearly basis due to Rs 522 crore towards rate regulated income for Subansiri Lower Project during the year. Interestingly, its other income declined by 30.93 per cent to Rs 913 crore in FY15 on yearly basis.

Net profit of NHPC rose by 104.42 per cent from Rs 1219 crore in FY14 to Rs 2491 crore in FY15. The increment in net profit is because of lower minority interest expense of Rs 307 crore during FY15 compared to Rs 414 crore in FY14. The Net profit margin expanded by 1349 basis points to 30.22 per cent in FY15 on yearly basis.Shareholding pattern of NHPC indicates that the  FII holding contracted by 4 basis points to 1.92 per cent while the DII holding expanded by 42 basis points to 4.3 per cent in March 2015 quarter.

NHPC got environment clearance for Dibang Multipurpose project in May 2015. The company has set a target for generating 22000 million units in the current fiscal compared to 21800 million units in FY15.