Shares of NHPC Ltd skyrocketed 8% on 12 February after the company announced an interim dividend for the current fiscal year.

In its regulatory filing, the company said that the Board of Directors has considered and approved an interim dividend of Rs 1.4 per share on the face value of paid-up equity shares of Rs 10 each for the ongoing fiscal year and has set 22 February as the record date for ascertaining eligibility of shareholders for payment of interim dividend.

The company also released its quarterly earnings for October-December, reporting a 26% year-on-year decline in its consolidated net profit at Rs 491.90 crore for the quarter from Rs 671.67 crore reported in the same quarter last year.

The revenue from operations for the quarter stood at Rs 2,055.50 crore, marking a 20.42% YoY decline from Rs 2,549.69 crore reported in the same quarter of the previous fiscal year.

The government has also launched an offer-for-sale to divest its stake in the company. The floor price for the offer-for-sale has been fixed at Rs 71 and will open on 13 February and conclude on 16 February.

Through this offer-for-sale, the government plans to raise about Rs 2,320 crore, which is part of a larger divestment drive. The centre has raised around Rs 10,050 crore through stake sales during the current fiscal year, which is only one-fifth of its 2023-24 target of Rs 51,000 crore.

At 1:16 pm, the shares of NHPC were trading 3.83% higher at Rs 84.10 on NSE.