NTPC Q1 net profit up 12%

The power firm PAT for the quarter increased to Rs 2,618.17 crore

Power utility major NTPC on Saturday reported a 12 per cent rise in its standalone net profit for the first quarter (Q1) of 2017-18.

According to the company, its profit after tax for the quarter increased to Rs 2,618.17 crore from Rs 2,338.61 crore during the corresponding period in 2016-17.

NTPC informed the BSE that its total income for Q1 of 2017-18 rose by seven per cent to Rs 20,541.93 crore from Rs 19,220.80 crore during the corresponding quarter of the previous financial year.

"During Q1 of FY 2017-18, NTPC group generated 71.606 billion units against 71.501 billion units generated in the corresponding period of the previous year," the company said in a statement.

"On a standalone basis, NTPC generated 64.411 billion units," it said.

Besides the Q1 results, NTPC informed the BSE that its Borad of Directors had approved the issue of secured, unsecured, redeemable, taxable, tax-free, cumulative, non-cumulative, non-convertible debentures (NCDs) up to Rs 15,000 crore 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 2018-19, whichever earlier.