NHPC posts Q3 profit, declares interim dividend, updates on projects
Author: PPD Team Date: February 5, 2026
NHPC Limited announced its financial results for the third quarter ended December 31, 2025, along with an interim dividend and updates on project commissioning and board level decisions.
For Q3, NHPC reported a standalone profit of Rs 292.87 crore. Consolidated profit attributable to owners stood at Rs 219.12 crore. Standalone revenue from operations was Rs 1,877.47 crore, while consolidated revenue amounted to Rs 2,220.73 crore. The Board of Directors declared an interim dividend of Rs 1.40 per equity share for fiscal year 2025-26, with February 10, 2026 fixed as the record date.
The quarterly performance was influenced by regulatory developments. NHPC recognised a regulatory deferral balance of Rs 1,176.08 crore in its standalone accounts. This mainly includes Rs 781.45 crore towards Associated Transmission System charges for the Subansiri Lower Project, in line with an order issued by the Central Electricity Regulatory Commission (CERC). The company said this amount is recoverable through future tariffs.
On the project side, Unit 2 of the 2,000 MW Subansiri Lower project, with a capacity of 250 MW, was commissioned during Q3. This was followed by the commissioning of Unit 3 on February 1, 2026. The 800 MW Parbati II project, commissioned in April 2025, contributed provisional unbilled sales of Rs 249.49 crore. The 300 MW Karnisar solar project, commissioned during the nine month period, generated Rs 24.15 crore in revenue during the quarter.
The board also approved several strategic decisions. These include the cancellation of a joint venture memorandum of understanding with Green Energy Development Corporation of Odisha Limited (GEDCOL) for floating solar projects. NHPC further approved its exit as a promoter of PTC India Limited, following a directive from the Ministry of Power.
NHPC confirmed that there were no defaults in debt servicing during the period. The company reported an asset cover of Rs 25,688.03 crore for its listed debt instruments.