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NHPC on Saturday reported a net profit of Rs 581 crore for the quarter ended December 31, 2009. The company had a loss of Rs 53.94 crore in the same quarter previous fiscal, NHPC said in a filing to the Bombay Stock Exchange. Total income rose to Rs 1,276.97 crore in the October- December quarter, from Rs 485.90 crore in the same quarter previous fiscal.

State-run National Hydro Power Corporation Ltd (NHPC) planned to float its IPO around Diwali in October to raise Rs 1,680 crore from stock markets to meet financial requirements of ongoing expansion work.   The company would issue 168 crore shares in the capital market at the rate of Rs 10 at face value per equity comprising 10 per cent fresh shares and five per cent shares to be divested by the government, NHPC Chief Managing Director S K Garg told a select group of reporters here today.      Garg, who was here to review hydro-electric power plants, both functional and under-construction in Sikkim, said that the price band of the NHPC DS shares would be decided soon.      He said that the company has already appointed its merchant bankers including Kotak Mahindra Bank and SBI Capital to deal with various aspects of the IPO.      The capital, being generated from the public issue, would be utilised for the ongoing expansion work and completion of 10 under-construction hydel projects wi...