NTPC Photo: Wikipedia
State-owned power giant NTPC reported 1.14 per cent decline in standalone net profit to Rs 25.8 billion for the first quarter ended June 30, due to higher depreciation, borrowing cost and expenditure on fuel.
The company's had posted Rs 26.1 billion standalone net profit in the corresponding period last fiscal, it said in a BSE filing.
According to the statement, the company's total revenues in the quarter rose 11 per cent to Rs 228.3 billion from Rs 205.4 billion in the year-ago period.
The company provided Rs 18.6 billion for depreciation, amortisation and impairment expenses in the first quarter, which were higher than Rs 15.7 billion in the same period last fiscal.
Similarly, its borrowing cost increased to Rs 12.1 billion from Rs 8.9 billion. The fuel cost also rose to Rs 131.18 billion in the quarter under review from Rs 119.40 billion a year ago.
Besides, the board also "approved the issue of secured/ unsecured, redeemable, taxable/ tax-free, cumulative/ non-cumulative, non-convertible debentures ('Bonds/NCDs') up to Rs 120 billion during the period commencing from the date of passing of Special Resolution in the ensuing Annual General Meeting till completion of one year thereof or the date of next Annual General Meeting in the financial year 2019-20 whichever is earlier," the company said.
The company's gross power generation in the quarter stood at 69.21 billion units (BU), up 7.45 per cent from 64.41 BU a year ago.
Its plant load factor (PLF) or capacity utilisation of coal based plants has come down by 1.07 per cent at 77.98 per cent in the quarter compared to 79.05 per cent a year ago.
The average power tariff of the company during the quarter was Rs 3.36 per unit.