• Operational income was up by 13% to Rs 2421.29 crore driven by 15% growth in sale of power generation by the company to Rs 2186.2 crore. While the income from finance and operating lease stand higher by 2% and 7% respectively to Rs 53.52 crore and Rs 174.63 crore, the consultancy revenue was down by 22% to Rs 5.22 crore. Similarly the other operating revenue was down by 81% to Rs 1.72 crore.

• Operating profit margin expanded by 130 bps to 62.1% largely due to lower staff cost and OE. While staff cost as proportion to sales was lower by 170 bps to 14.8%, the OE was down by 30 bps to 11.3%. However the Generation Exp was up by 60 bps to 11.8%. Due to adoption of Ind AS 116 ‘Leases' the lease expenses have changed from other expenses and employee benefit expenses to depreciation & amortization expenses.

• Other income was down by 16% to Rs 87.16 crore. Interest cost was up by 7% to Rs 236.56 crore and the depreciation was up by 4% to Rs 386.60 crore. Thus the PBT was up by 20% to Rs 967.98 crore.

• Taxation was up by 50% to Rs 285.70 crore. Thus the PAT was up by 10% to Rs 682.28 crore.

• The company recognized a regulated income of Rs 198.86 crore, an increase of 67%. Thus the PAT (after rate regulated income) was up by 19% to Rs 881.14 crore.

Consolidated sales was up by 13% to Rs 2609.95 crore and with 90 bps expansion in OPM, the operating profit was flat up by 14% to RS 1628.97 crore. The PBT before share of profit from JV was up by 16% to Rs 1133.47 crore after accounting for lower OI, higher interest cost and higher depreciation. The share of profit of JV was up by 40% to Rs 1.57 crore. Thus the PBT was up by 16% to Rs 1135.04 crore. The taxation was up by 42% to Rs 359.87 crore and thus the PAT was up by 7% to Rs 775.17 crore. The regulatory income was up by 66% to Rs 214.10 crore and thus the PAT after RI was up by 16% to Rs 989.27 crore. The profit attributable to non controlling interest was down by 4% to Rs 58.38 crore and thus the net profit attributable to owners was up by 18% to Rs 930.89 crore.

Other developments

NHPC is India's premier hydropower company. NHPC's total installed capacity is 7071.2 MW and it operates 24 power stations including JV, Solar and Wind. The generation from all power stations in Q1FY20 stands at 8485 MUs and surpasses previous record of 8416 MU in FY 17-18.

National Company Law Tribunal (NCL T) has approved the resolution plan submitted by the Company for acquisition of Lance Teesta Hydro Power Limited (500 MW Teesta VI HE Project) ('Lance Teesta') for a consideration of Rs. 897.50 Crore, vide order dated 26th July 2019. As per the approved resolution plan, NHPC would pay Rs. 877. 74 crore to the financial creditors and Rs. 11.12 crore would go to the operational creditors of Lanco Teesta Hydro Power. The 500 MW Teesta-VI project would generate 2,400 million units of power in 90 per cent dependable year. The Run-of-the-river project shall be completed in about 5 years. The project is expected to meet the peaking demand of energy, balancing and ramping requirement of the grid. The levelized tariff is expected to be Rs. 4.07 I unit. NHPC will fund the project through a debt-equity ratio of 70:30. The project will be implemented at an estimated cost of Rs. 5,748.04 crore (at July 2018 price level).

NHPC appointed as "Aggregator" under Pilot Scheme-II notified by Ministry of Power, Govt. of India for procurement of aggregated Power of 2500 MW for 3 years. Ministry of Power, Govt. of India issued notification for Pilot Scheme-II on 30.01.2019 for procurement of2500MW aggregated power for 03 years through PFC Consultancy Limited as Nodal Agency. The scheme facilitates procurement of aggregated power from the generating companies with already commissioned coal based Power Plants but not having a Power Purchase Agreement (PP As). NHPC has been appointed as "Aggregator" for procurement of 2500MW aggregated power for 3 years under the Pilot Scheme-II scheme. The above scheme shall involve transaction of electricity of around 18615 MU s at 85% PLF of 2500 MW and turnover of more than of Rs 7000 crores (approx.) on yearly basis. NHPC shall receive Trading Margin from Distribution Licensee(s)/Utilities under Pilot Scheme-II for providing services of "Aggregator" between Generator & Buyer/Utilities as Trader. NHPC is in process of tying up with various discoms/ utilities for the above.