NHPC posts Rs 644 cr net profit in Q4
Swinging into black, hydel power producer NHPC has reported a net profit of Rs 644.51 crore for the March quarter mainly on account of higher power generation.
The state-owned company had registered a net loss of Rs 707.4 crore in the year-ago period, it said in a BSE filing. For the year ended March 2015, the company posted a standalone net profit of Rs 2,124.47 crore whereas the same stood at Rs 978.79 crore in the year-ago period. Consolidated net profit stood at Rs 2,491.36 crore for the year ended March 2015 as against Rs 1,218.75 crore posted in the year-ago period.
“The main reasons better performance of the company in the March quarter as well as in the fiscal under review is higher power generation compared and adopting latest accounting standards,” a senior official said.
He revealed that the NHPC generated 4,000 million units more in 2014-15 compared to total power generations in the previous fiscal. “During the last fiscal, we adopted Accounting Standard-16 (AS-16) in line with guidelines of Institute of Chartered Accountant of India. <g data-gr-id="22">Thus</g> we did not charge interest on borrowing to our Profit and Loss Account, which helped our improving our bottom line,” the official added.
In a statement the company said: “In view of the seasonal nature of <g data-gr-id="21">business</g>, the financial results of the current quarter may not be comparable with other quarters of the current financial year.”
However, in the latest March quarter, NHPC’s total income dropped to Rs 1,653.39 crore from Rs 1,778.6 crore in the same period a year ago. Total income rose to Rs 7,663.58 crore for the fiscal ended March 2015 from Rs 6,993.99 crore recorded in the same period a year ago.
Andrew Yule declares dividend after 21 yrs
Diversified PSU Andrew Yule & Co on Saturday said that it had declared a dividend of five per cent after a period of 21 years for the financial year 2014-15.Chairman and managing director of Andrew Yule Kallol Datta said that the company had also clocked an accumulated profit of Rs 20 crore during the fiscal. The PSU, which has tea and electrical business divisions, suffered an accumulated loss of Rs 431 crore in 2006-07 with a negative <g data-gr-id="36">networth</g> of Rs 157 crore, he said.