NHPC shares gain as Sep quarter net profit jumps

NHPC shares on Tuesday gained around 3 per cent after the company posted a 72.62 per cent jump in net profit in the September quarter.

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NHPC shares on Tuesday gained around 3 per cent after the company posted a 72.62 per cent jump in net profit in the September quarter.

The share price of the company closed 2.81 per cent up at Rs 18.30. The scrip opened at Rs 18.45 and touched a high and low of Rs 18.80 and Rs 18.10, respectively, in trade.

NHPC on Monday registered a 72.62 per cent rise in net profit at Rs 1,180.84 crore for the second quarter ended September 30, 2015, even as the company announced it is in talks with private firms to buy stake in hydro-power projects in Arunachal Pradesh.

“I got the offer from private players (implementing projects) from Subansiri basin to come (join) as a joint venture partner,” NHPC Chairman & Managing Director K M Singh said.

Singh also confirmed that NHPC is in touch with the Arunachal Pradesh government, which is now asking the company to implement certain ongoing projects in the state.

Total income was Rs 2,679.44 crore for the said quarter as compared with Rs 2,325.01 crore for the quarter ended September 30, 2014.

(With inputs from PTI)

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