NHPC Q1 outcomes: Reviews over 13% decline in web revenue at Rs 855 crore

NEW DELHI: State-owned hydro energy big NHPC on Monday reported over 13 per cent dip in its consolidated web revenue to Rs 855.49 crore for the quarter ending June because of a rebate of Rs 185 crore given to discoms in view of Covid-19 scenario. Its consolidated web revenue was Rs 989.27 crore within the quarter ended on June 30, 2019, a BSE submitting acknowledged.

Whole earnings for the quarter beneath assessment rose marginally to Rs 2,914.02 crore from Rs 2,754.48 in the identical interval of final yr.

In regards to the Covid-19 scenario, NHPC acknowledged, “The corporate’s major income is from (energy) technology and sale of hydroelectricity. In the course of the outbreak of Covid-19, the Authorities of India and State Governments have declared lockdown which have affected enterprise on the whole.”

The corporate additionally acknowledged that no materials impression of Covid-19 on the monetary efficiency of the corporate, together with interalia the carrying worth of varied present and non-current belongings or the power to service the debt of the corporate, is predicted to come up.

Nonetheless, it stated that consistent with the instructions of the Ministry of Energy (issued) on 15th & 16th Could 2020, the corporate has given a one-time rebate of Rs 185 crore to discoms and Energy Departments of States/ Union territories for passing on to final shoppers on account of Covid-19 pandemic.

The rebate has been offered as an “distinctive merchandise” within the Assertion of Monetary Outcomes, it added.