NHPC shares climb 5% intraday on wind power project deal

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New Delhi | Updated: September 30, 2016 4:39:34 PM

NHPC shares advanced as much as 5 per cent on Friday after the company informed bourses that it has signed a power purchase pact with Rajasthan as well as Inox Ltd

nhpc sharesNHPC shares advanced as much as 5 per cent on Friday after the company informed bourses that it has signed a power purchase pact with Rajasthan as well as Inox Ltd

NHPC shares advanced as much as 5 per cent on Friday after the company informed bourses that it has signed a power purchase pact with Rajasthan as well as Inox Ltd for a 50 MW wind power project in the state. At 1.58 pm, shares of NHPC were trading 2.88 per cent up at Rs 25. The scrip opened the day at Rs 25.50 and has touched a high and low of Rs 25.50 and Rs 24.30, respectively, in trade so far. Later, the scrip ended 3.09 per cent up at Rs 25.05.

In a BSE filing NHPC said, “Wind Power Purchase Agreement (PPA) has been signed among Rajasthan Government, NHPC and Inox on September 28 for a 50 MW wind power project in Jaisalmer, Rajasthan. As per the PPA, Rajasthan government will purchase the power generated from the project.

For the quarter ended June 30, 2016, the company reported a net profit of Rs 857.82 crore, up 7.47 per cent, against Rs 798.17 crore in the corresponding quarter a year ago. Net sales of the company also increased by 9.38 per cent year-on-year to Rs 2166.04 crore for the quarter under review. It had reported a net sales of Rs 1980.33 crore in the same quarter last year.

Operating profit of NHPC jumped by 3.03 per cent to Rs 1657.73 from Rs 1609.03 crore during the same period.

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