NHPC profit rises 52% as hydro revenue expands

Company: NHPC Limited (NSE: NHPC) NHPC reported a strong Q2 FY27, with consolidated revenue from operations rising 33.2% year-on-year to ₹4,482.55 crore. Profit attributable to shareholders increased 51.7% to ₹1,549.09 crore. Key Highlights Revenue from operations increased 33.2% to ₹4,482.55 crore. Profit attributable to shareholders rose 51.7% to ₹1,549.09 crore, compared with ₹1,021.44 crore last year. EBITDA increased 35.8% to approximately ₹3,358.8 crore. Operating margin improved to 64.2% from 60.2%. Revenue growth was supported partly by revenue recognition from the Subansiri Lower and Parbati-II projects. The company also recorded a ₹231.3 crore provision related to the Teesta-IV project. My View The quarter reflects strong revenue and profit growth, supported by improving project execution and operating performance. However, the reported numbers need to be viewed alongside project-related provisions, rising finance costs and higher depreciation. Hydropower projects require significant capital investment, and timely commissioning and revenue realisation will remain important. What I'm Watching Next Commissioning progress at Subansiri Lower. Execution of the upcoming project pipeline. Finance costs and capital expenditure. Sustainability of operating margins and cash flows. Stance: Positive on operating performance, but project execution, funding requirements and cash-flow conversion need close monitoring. I do not have any holding or position in the stock mentioned above. NHPC