NTPC net profit up by 4% at Rs 2,370 crore

State-owned NTPC on Monday reported 4% rise in standalone net profit to Rs 2,369.53 crore for the first quarter due to increased power generation and better utilisation of coal-based plants.

The company's standalone net profit in the quarter ended June 30, 2015, was Rs 2,276.50 crore, NTPC said in a BSE filing.

According to a company official the rise in net profit has been due to increased generation and better ulilisation of its capacities.

The company's gross power generation during the quarter ended June 30, 2016, rose almost 10% to 64.55 billion units (BUs), over 58.69 BUs year ago.

The company's plant load factor (PLF) or proportion of generation capacity utilised at coal based plants was 81.35% in April-June quarter as compared to 77.58% in the same period last fiscal.

The gross sales of the company in the first quarter was up 11.34% at Rs 18,939.81 crore compared with Rs 17,010.35 crore in the year ago period.

The company's average tariff during the quarter was Rs 3.12 per unit. It was Rs 3.18 a unit in the last fiscal.

The company further said during the quarter, one thermal unit of 250 mw at Bongaigaon thermal power project with effect from April 1, 2016 and solar units of 200 mw at NP Kunta Ultra Mega Solar Power project at Anantapuram with effect from May 9, 2016 have been declared commercial.

The stock of the company ended at Rs 163.55 a piece on BSE, down 1.92%.