NHPC shares plunge 19% after Q3 results; details here

Shares of NHPC Ltd fell sharply in Monday's trade after the state-run firm recorded a 26.77 per cent fall in its third-quarter consolidated net profit. The figure came at Rs 491.90 crore as against Rs 671.67 crore in the corresponding period last fiscal. Revenue from operation slipped 20.42 per cent in Q3 FY24 compared to Rs 2,055.50 crore in the year-ago period.

The company has also declared an interim dividend of Rs 1.40 per share. "Payment of interim dividend at the rate of 14 per cent (Rs 1.40 per equity share) on the face value of paid-up equity shares of Rs 10 each for the financial year 2023-24. Pursuant to Regulation 42 of SEBI LODR, the Board has fixed February 22 as record date for the purpose of ascertaining eligibility of shareholders for payment of interim dividend," it stated.

The stock today slumped 19.26 per cent to hit a day low of Rs 77.71. At this price, it has declined 32.92 per cent from its one-year high price of Rs 115.84, a level seen earlier this month on February 5.

On BSE, around 4.08 crore were last seen changing hands. The number was way more than the two-week average volume of 2.53 crore shares. Turnover on the counter came at Rs 353.06 crore, commanding a market capitalisation (m-cap) of Rs 81,615.91 crore.

Separately, the government has launched an offer-for-sale (OFS) to sell a stake in the PSU. The floor price of the OFS has been fixed at Rs 71. It will open from February 13 and conclude on February 16.

The sale, part of a larger divestment drive, will help the government raise about Rs 2,320 crore.

The Centre has raised about Rs 10,050 crore through stake sales this financial year, only a fifth of its 2023-24 target of Rs 51,000 crore.

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