NHPC Q4 FY25 Results: Profit Up 52%, Dividend ₹0.51

Summary of the March-quarter update

NHPC Ltd, a state-owned hydropower developer, reported a sharp rise in consolidated net profit for the March 2025 quarter, supported by higher income. Alongside the earnings update, the board recommended a final dividend for FY2024-25, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The filings and reports also showed a mixed picture on margins, with operating margin declining year-on-year in one set of disclosed numbers. Separately, another report on NHPC’s March-quarter performance highlighted a different profit and margin profile, indicating that multiple result snapshots were circulating across market coverage.

Q4 FY25 profit: what NHPC reported

For the quarter ended March 2025, NHPC reported a 52% rise in consolidated net profit to ₹919.63 crore. The profit in the same quarter of the previous year was reported at ₹605 crore. The company attributed the quarter’s improvement to increased income, as reflected in the reported total income growth for the period.

Income growth in Q4 FY25

NHPC said its income in Q4 increased to ₹2,672.11 crore from ₹2,320.18 crore in the corresponding quarter a year ago. In another disclosed metric for the same quarter, revenue from operations was reported at ₹2,346.97 crore for the quarter ended March 31, 2025, up 24.37% year-on-year. The different reporting lines used across coverage highlight the distinction between “total income” and “revenue from operations,” both of which were cited in the provided material.

Margin and profitability indicators: operating margin fell

On margins, one set of figures showed operating margin reduced to 35.33% in Q4 FY25 compared with 47.79% in Q4 FY24. At the same time, net profit margin was reported higher at 39.18% in Q4 FY25 versus 32.06% in the year-ago quarter. The same report also stated profit before tax and regulatory deferral account balances at ₹1,113.09 crore for the quarter, up 20.42% from ₹924.32 crore in Q4 FY24.

Full-year FY25: profit decline despite stronger Q4

Despite the stronger March-quarter performance, NHPC’s consolidated net profit for the full year FY25 was reported to have declined by around 15% to ₹3,411.73 crore. The comparable FY24 profit was stated at ₹3,999.54 crore. Another disclosed datapoint said FY25 revenue from operations increased 7.77% to ₹10,379.86 crore.

Dividend announced: interim already paid, final proposed

NHPC’s board recommended a final dividend of ₹0.51 per equity share of face value ₹10 for FY2024-25. The recommendation was stated as “5.10% of face value,” translating to Re 0.51 per share, and is subject to shareholders’ approval at the ensuing AGM. This final dividend is in addition to the interim dividend of ₹1.40 per equity share that was paid in March 2025.

A separate Q4 snapshot reported higher profit and a larger final dividend

In a separate result snapshot included in the provided material, NHPC was reported to have posted a 71.4% year-on-year jump in net profit to ₹1,464 crore in Q4, compared with ₹854 crore a year ago. In that same snapshot, revenue from operations rose 20% to ₹2,816 crore from ₹2,347 crore, while Ebitda slipped 0.7% to ₹1,196 crore from ₹1,205 crore. Ebitda margin was reported to have contracted to 42.5% from 51.3%.

That snapshot also said NHPC recommended a final dividend of ₹2.10 per equity share, in addition to an interim dividend of ₹1.4 per share already paid during the financial year, with the final dividend subject to shareholder approval at the AGM and payable within the statutory timeline if approved.

Stock market reaction: reports cited mixed moves

Market reaction varied across the provided reports and sessions. One report said the stock fell as much as 2.22% to ₹76.71 on the NSE and settled 2.12% lower at ₹76.79, compared with a 0.19% decline in the Nifty 50. Another report cited the shares rising 0.77% to ₹87.27 on the BSE, while a separate update said the stock was trading 0.62% higher at ₹87.14. Yet another report noted NHPC closed 2.7% lower at ₹86.60 on the BSE in the previous session.

Key reported numbers at a glance

What investors will track next

The immediate next milestone mentioned is shareholder approval for the final dividend at the upcoming AGM. Investors will also track how NHPC’s operating cost and margin profile evolves, given that one set of disclosed figures showed a year-on-year decline in operating margin even as profit improved. The full-year profit decline, despite higher reported FY25 revenue from operations, is another point likely to remain in focus as the company moves into the next financial year.

Conclusion

NHPC’s March-quarter performance showed strong year-on-year profit growth supported by higher income, while full-year FY25 profit was reported lower versus FY24. The board’s proposed final dividend, along with the interim dividend already paid, will now go to shareholders for approval at the AGM, after which payment will follow the statutory timeline if approved.