Lower hydro generation and a decision to get out of international geothermal developments has dramatically reduced Mighty River Power's profit.

The after tax profit for the six months to December was eight million, down $116 million compared to the same period the previous year.

The company says its exit from geothermal development in Chile and Germany was the the primary driver of the lower result.

However Chair Joan Withers says Mighty River has strong cash flow and is forecasting a dividend payment of 14 cents for the 2015 financial year - that's unchanged from predictions.

An interim dividend of 5.6 cents per share will be paid next month.