Q1 performance: NTPC profit rises 27% to Rs 3,146 crore
State-owned NTPC reported a 27.3% year-on-year (y-o-y) increase in its standalone net profit to Rs 3,145.6 crore in the three months ended June mainly on higher revenue and lower tax expenses. The company’s board has approved the proposal to raise Rs 18,000 crore through bonds from the domestic market in the ongoing fiscal. NTPC revenue increased 11.6% to Rs 26,802.3 crore in Q1 as the power company sold 66.6 billion units of electricity in the period, 19.3% higher than the corresponding period last fiscal.
Overall coal consumption in the quarter increased by 14.6% to 46.3 million tonne (MT). It imported 0.5 MT coal in the quarter under review against 0.2 MT imports in the corresponding quarter last year. NTPC’s captive mines produced 2.5 MT of the fuel. The company paid Rs 1,180.5 crore in taxes during the quarter, 4% lower than the same period last year. NTPC coal stations achieved utilisation levels (PLF) of 69.7% in the first quarter of the fiscal, against the national average PLF of 58.6%.
