Motilal Oswal: NHPC’s Lower Other Income Offsets Modest Generation Growth In Q2
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Motilal Oswal Report
NHPC Ltd.’s Q2 FY21 results highlight the steady nature of its business.
Standalone profit after tax declined 3% YoY to Rs 7.2 billion (in-line) due to slightly lower other income.
Capex run-rate is expected to increase on account of investment in new projects.
However, their commissioning remains four-five years away, implying free cash flow/ return on equities dragging in the near term.
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