• Sale for the quarter was lower by 9% to Rs 2128.99 crore hit by lower water in Himalayan rivers with less ice melting.

• Expansion in operating profit margin to the tune of 100 bps was largely due to fall in all cost heads barring other expenses. The staff cost was down by 90 bps to 16.5%. Generation Expenses was down 70 bps to 11.3%. The other expense was higher by 50 bps to 11.6%. During the quarter, revision of pay scales w.e.f. 01.01.2017 has been implemented for the employees in the executive category. Revision of pay scales for supervisor and workmen category is under consideration. Pending finalization of the same, provision of Rs 21.08 crore has been made for the quarter ended 30.06.2018 (corresponding previous quarter Rs 37.44 crore). Thus hit by lower sales the operating profit was down by 7% to Rs 1290.43 crore.

• Other income was up by 8% to Rs 112.92 crore. The interest cost was down by 8% to Rs 221.23 crore and the depreciation was up by 5% to Rs 372.55 crore. Thus the PBT was down by 10% to Rs 809.57 crore.

• Taxation in absolute terms was down by 9% to Rs 215.14 crore. Thus the PAT was down by 10% Rs 594.43 crore. The regulatory income was down by 29% to Rs 143.14 crore. Thus the PAT after RI was down by 15% to Rs 737.57 crore.

• Other comprehensive income was an expense of Rs 18.68 crore compared to an income of Rs 4.36 crore. The net profit was down by 17% to Rs 718.89 crore.

Yearly performance

Sales was down by 5% to Rs 6934.03 crore but with OPM expand to 52.5% (from 51.8% in corresponding previous period) the fall in operating profit was restricted at 3% to Rs 3643.13 crore. After accounting for higher other income, lower interest and higher depreciation the PBT was up by 2% to Rs 2805.92 crore. The taxation was up by 13% to Rs 767.09 crore and thus PAT was down by 2% to Rs 2038.83 crore. Regulatory income was up by 1% to Rs 719.82 crore and thus the PAT was down by 1% to Rs 2758.65 crore. The other comprehensive income was down by 23% to Rs 5.88 crore and thus the fall at total comprehensive income was 1% to Rs 2764.53 crore.

Consolidated sales was down by 10% to Rs 7751.24 crore and the OPM was down at 54.2% (from 56.2% in corresponding previous period) thereby causing 13% fall in OP to Rs 4201.84 crore. Eventually the net profit attributable to owners was down by 17% to Rs 2510.03 crore.