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| NTPC net up 5% owing to lower fuel costs |
| BS Reporter / New Delhi Jan 30, 2010, 00:41 IST |
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NTPC Ltd, India’s largest power generator, has posted a 5 per cent rise in net profit for the quarter ended December 2009, owing to lower fuel costs.
The company posted a net profit of Rs 2,364.9 crore in the quarter compared with Rs 2,250.9 crore in the corresponding quarter last year. Its fuel costs fell 3.3 per cent to Rs 6,767.2 crore in the three months ended December.
“Our power generation has also gone up by 2.4 per cent at 50.9 billion units in the December quarter,” said A K Singhal, director finance of the company.
The government is diluting 5 per cent of its stake in NTPC Ltd to raise Rs 8,000 crore through an FPO which will be launched on February 3.
Net sales in the quarter were down 1.2 per cent at Rs 11,709.2 crore against Rs 11,863 crore in the corresponding quarter last year.
NTPC has a current power generation capacity of 31,000 Mw and plans to ramp it up to over 75,000 Mw by 2017. The company’s share price at the Bombay Stock Exchange closed down 0.6 per cent at Rs 214.2.
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