State-owned hydroelectric power producer NHPC Ltd on Thursday (December 12) said its board of directors has approved a revised borrowing plan to raise up to ₹6,900 crore during the financial year 2024-25. The decision was taken at a board meeting held on December 12, 2024.

The borrowing plan includes raising funds through secured or unsecured, redeemable, taxable, non-cumulative, non-convertible corporate bonds in one or more series or tranches via private placement. Additionally, the plan accommodates the option to raise term loans or external commercial borrowings (ECBs) in suitable tranches.

As part of this strategy, the board also reviewed the General Information Document (GID) and Key Information Document (KID) for issuing AE-Series Bonds. These unsecured, redeemable, taxable, and non-convertible bonds will have a value of up to ₹2,600 crore and will be issued in one or more tranches through private placement.

Also Read: NHPC board to review ₹2,600 crore borrowing plan; CLSA sees 38% upside

NHPC reported a 41.2% decline in net profit for the second quarter, posting ₹909 crore compared to ₹1,546 crore in the same quarter last year. The drop in profitability comes despite a 4.1% increase in revenue, which reached ₹3,052 crore, up from ₹2,931.3 crore in the corresponding period last year.

The company’s operational revenue in Q1 stood at ₹2,694 crore, indicating a steady upward trend from the previous quarter. The EBITDA for Q2 showed modest growth, rising 1.7% year-on-year to ₹1,799 crore, compared to ₹1,768.4 crore in Q2 FY24. However, margins contracted to 58.9% from 60.3% a year earlier, reflecting some pressure on operational efficiency.

Shares of NHPC Ltd ended at ₹85.07, down by ₹1.01, or 1.17% on the BSE.

Also Read: NHPC Q1 Results | Net profit rises 1% to ₹1,109 crore, revenue dips 2% to ₹2,694 crore