Buoyed by strong topline growth, NHPC Ltd reported a 40 per cent increase in net profit at Rs 966 crore in the second quarter of 2011-12. The state-owned hydropower major's net sales were up 48 per cent at Rs 1,831 crore in July-September 2011.
The second quarter is a seasonally favourable period that contributes bulk of the earnings for the full year for most hydroelectric firms. Higher tariffs and the withdrawal of a water cess levied earlier by Jammu & Kashmir contributed to the numbers during the quarter.
NHPC's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 35 per cent to Rs 1,416 crore during the second quarter this fiscal. Employee costs during the latest reported quarter jumped 55 per cent to Rs 204.6 crore.
The stock ended the day up 5 per cent at Rs 24.80 on the BSE on Friday.