NHPC Q1 Review - Good Performance Driven By Higher Generation: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.NHPC Ltd.'s reported standalone profit after tax for Q1 FY23 was up 15.1% YoY to Rs 10.5 billion. However, adjusted for one-offs, profit after tax was up 20% YoY to Rs 11 billion. Major factors impacting the numbers were:higher net generation at 8,009 million units (up 11.3% YoY),decline in employee cost by 3.2% YoY to Rs 3.1 billion, and6.6% YoY higher ‘other income’ at Rs 2.2 billion. Further, there were a few one-time items impacting profitability for the quarter: impairment provision of Rs 1.1 billion for Loktak Downstream project,fair value loss of Rs 860 million for receivables from Jammu and Kashmir, andmoving annual total credit utilisation of Rs 1.1 billion. NHPC has announced it will be monetising a few of its operational hydro assets starting with Uri-I in FY23. Over FY22-FY25, we believe apart from the under-construction hydro projects, NHPC’s renewable energy initiatives will also be a major value-creator..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

NHPC Q1 Review - Good Performance Driven By Higher Generation: ICICI Securities