NHPC: Maintain ‘buy’ with revised DCF-based TP of Rs45
NHPC: Maintain ‘buy’ with revised DCF-based TP of Rs45
Major factors impacting the numbers were – 1) higher net generation at 9,912MUs (up 5.3% YoY), 2) reduction in employee cost by 10.9% YoY to Rs3.1billion, and 3) lower other income at Rs1.7billion (down 60% YoY) mainly due to lower LPS.