NHPC shares nosedives 16% post earnings

NEW DELHI: Shares of the state-owned NHPC nosedived 16 per cent on Monday afterit posted a 19 per cent fall in consolidated net profit for the December quarter.

The stock plummeted 15.81 per cent to close at Rs 81.03 apiece on the BSE. On the NSE, NHPC’s shares tumbled 15.38 per cent to settle at Rs 81.45 per piece. Nearly 39 crore shares were traded on the NSE, while 4.12 crore shares were traded on the BSE during the day. NHPC posted a consolidated net profit to Rs 628.44 crore for the quarter due to higher expenses.