NHPC Sets New Benchmark With Highest-Ever Q1 Profit

Posted On - 9 September, 2023 • By - King Stubb & Kasiva

NHPC Limited, a prominent player in India’s hydroelectric sector, has recently announced its impressive financial performance for the first quarter of the fiscal year 2023-24. This remarkable achievement was marked by NHPC reporting a substantial after-tax autonomous profit (PAT) of Rs. 1,053 Crore, surpassing its previous quarter’s PAT of Rs. 1050 Crore. The announcement came following a meeting of the NHPC Board on August 11th, 2023, where the first-quarter results for the financial year 2023-24 were officially approved.[1]

The company boasts a robust total installed capacity of 7097.2 MW in renewable energy, which includes both wind and solar power generation. Furthermore, a noteworthy portion of this capacity, amounting to 1520 MW, is generated through NHPC’s subsidiaries, contributing significantly to the company’s overall performance.

As NHPC continues to expand its renewable energy portfolio, it remains committed to its core mission of harnessing the power of water resources to generate clean electricity. The company’s 25 power plants are a testament to its dedication to this mission, contributing to the overall renewable energy capacity in the country.

NHPC’s success in the first quarter of the fiscal year 2023-24 reflects the broader trend of India’s growing emphasis on renewable energy sources. With climate change concerns and the need to reduce carbon emissions becoming increasingly pressing, NHPC’s contribution to the renewable energy sector is not only commendable but also pivotal in addressing these global challenges.

The NHPC Board’s approval of the first-quarter results is a clear endorsement of the company’s sound financial management and strategic decision-making. It also serves as a reassurance to NHPC’s stakeholders, including investors and the government, of the company’s ability to deliver strong financial performance consistently.

In conclusion, NHPC Limited’s outstanding performance in the first quarter of the fiscal year 2023-24 solidifies NHPC’s status as India’s premier hydropower company, and it highlights the company’s dedication to clean and sustainable energy production. The remarkable increase in PAT from the corresponding previous quarter is a testament to NHPC’s strategic vision and efficient operations, reaffirming its reputation as a reliable and forward-thinking player in the energy sector, with a focus on both profitability and environmental responsibility.

[1] Press Information Bureau, Government of India, Posted On: 12 AUG 2023 7:12PM (https://pib.gov.in/)