NTPC net falls 2.3% on higher borrowing
State-owned power giant NTPC on Monday reported a decline of 2.3 per cent in its stand-alone net profit at ~2,438.60 crore for quarter ended September due to higher borrowing and depreciation cost. The firm’s net profit was ~2,496.98 crore in the quarter ended on September 30, 2016, NTPC said on Monday.
According to the statement, the total income of the firm rose to ~19,960.35 crore in second quarter compared to ~19,588.56 crore a year ago.
The depreciation costs rose to ~1,712.68 crore in the second quarter from ~1,434.15 crore a year ago. Similarly the finance cost increased to ~919.47 crore in the quarter from ~889.83 crore a year ago. Its net profit in April-September period stood at ~5,056.77 crore compared to ~4,836.60 crore in the same period of the last financial year. Total income in the first half of FY18 was ~40,502.28 crore, against ~38,809.36 crore a year ago. The firm said that average tariff during the first half of this financial year was ~3.21 per unit. The gross power generation of the firm was up at 129.45 billion units (BUs) in AprilSeptember this financial year compared to 125.14 BUs a year ago. Its gross electricity generation also rose to 64.04 BUs in the quarter ended September compared with 60.59 BUs in the year ago period.