NHPC (NHPC) Q3 24/25 earnings summary

Executive summary

• Achieved 9M FY'25 standalone revenue from operations of ₹6,935.72 crore, up 2.79% year-over-year; total income rose 4.62% to ₹8,118.06 crore.

• Standalone PAT for 9M FY'25 was ₹2,190.06 crore, a 10.54% decline year-over-year; profit margin at 27%.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, and declared an interim dividend of ₹1.40 per share for FY 2024-25.

• Installed capacity reached 7,233 MW (6,971 MW hydro, 262 MW renewables) across 28 power stations, representing 15% of India's installed hydro capacity.

• Major new solar and floating solar projects commissioned and multiple PPAs signed for upcoming solar capacity.

Financial highlights

• Standalone EBITDA for 9M FY'25 was ₹4,818 crore with an EBITDA margin of 59%.

• Dividend payout for FY'24 was ₹1.90 per share, representing 51% of profit.

• Standalone Q3 FY25 revenue from operations: ₹1,970.34 crore; total income: ₹2,425.52 crore.

• Standalone net profit for Q3 FY25: ₹273.60 crore; nine months: ₹2,190.06 crore.

• Finance costs increased 212% year-over-year for 9M FY'25; employee benefit expenses rose 38%.

Outlook and guidance

• Targeted consolidated CAPEX for FY'25 is ₹11,762 crore, up from ₹8,652 crore in FY'24.

• Major hydro and solar projects under construction, with significant capacity additions expected through FY'29.

• Pipeline includes 10,804 MW under construction and 4,215 MW under survey/investigation.

• Tariff petitions for 2019-24 true-up and 2024-29 fixation filed; unbilled sales recognized pending approval.

• Seasonal nature of business leads to quarterly variability in results.