NTPC Q3 net profit falls 7.5% to Rs2,469 crore
NTPC’s total income in third quarter rose 11% to Rs19,396 crore on improved gross power generation and higher capacity utilisation of plants
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New Delhi: State-owned power producer NTPC Ltd on Wednesday reported a 7.5% fall in net profit in the December quarter to Rs2,469 crore from the same period a year ago on account of higher fuel and finance costs and tax liability relating to previous accounting periods.
NTPC informed stock exchanges that total income rose 11% to Rs19,396 crore on improved gross power generation and higher capacity utilisation of plants, in spite of adding more generation capacity. The company declared an interim dividend of Rs2.61 per equity share for the current fiscal.
NTPC’s profit from ordinary activities before finance costs and exceptional items rose 9.4% to Rs4,016 crores. The company reported a tax liability of Rs613 crore for the quarter, up from Rs121.3 crore for the same period a year ago. Fuel cost went up 14% in the quarter from a year ago, while finance cost rose 7.9%.
NTPC produced 61.4 billion units of electricity in the December quarter, a tad higher than what it did a year ago. NTPC Group’s installed generation capacity stood at 48,028 MW as on 31 December 2016, compared to 45,548 MW a year ago.