Aided by tax arrears, NTPC net rises 40%

Total income up by 7% to Rs Rs 17,899 cr

NTPC, the country’s largest power generator, posted a 40 per cent increase in profit at Rs 2,898 crore for the quarter ending September, compared to Rs 2,072 crore during same period last financial year.

The profit of the company has increased 35.7 per cent sequentially after declining for three quarters due to weak power demand. It was Rs 2,135 crore in the June quarter, Rs 2,944 crore in the quarter ending March 2015 and Rs 3,074 crore in quarter ending December 2014.

At the operating level, too, profit was up 24 per cent year-on-year to Rs 4,031 crore.

Its total income from operations (revenues) jumped 6.9 per cent for quarter ending September. The unaudited total income  was Rs 17,899 crore against the unaudited total income of Rs 16,736.63 crore in the same year-ago period .

NTPC has installed capacity of 45,548 Mw. The gross power generation  increased to 60.1 billion units from 55.45 billion units in the corresponding period of the previous year,  an increase of over eight per cent.

Net profit was impacted by a decline in other income, down 48 per cent at Rs 275 crore and a 22-per cent increase in interest outgo at Rs 816 crore.

Tax credit of Rs 730 crore, however, added to profit growth during the July-September quarter in 2015.

The company said the unaudited total income for six months ending September 2015 was Rs 34,983 crore against Rs 35,073 crore during same period in previous year.

For H1 FY 2015-16, unaudited PAT increased by 17.8 per cent to Rs 5,034 crore over the same period last fiscal.