NTPC Q2 net down 18% on tax adjustments

The PSU had posted net profit of Rs 3,039.23 crore for the quarter July-September period of FY16

NTPC Ltd reported 17.87% drop in standalone net profit at Rs 2,495.97 crore for the second quarter ended September 30, 2016-17.

It had posted net profit of Rs 3,039.23 crore for the quarter July-September period of 2015-16.

According to the company statement, its total income increased from Rs 18,218.16 crore a year ago, to Rs 19,588.56 crore for the second quarter of the current financial year.

During second quarter last fiscal, NTPC was benifitted due refunds and other receivables on account of tax adjustments, an official said.

The state-owned thermal power major said its revenue from electricity generation increased to Rs 19,491.54 crore in the quarter under review, compared to Rs 17,993.50 crore in same period last year.

The gross electricity generation of the company in the quarter under review was 60.593 billion units compared to 60.160 billion units.

Similarly, the electricity sent out was 56.476 billion units in second quarter compared to 55.875 billion units a year ago.

The company's plant load factor (PLF) or proportion of generation capacity utilisation was 74.65% at thermal (coal) power plants in the quarter compared to 77.27% a year ago.

The PLF at company's hydro power plants was 92.58% in the quarter compared to 83.29% a year ago. The gas based plants' PLF was 23.57% in the period compared to 25.73% last year. The capacity utilisation was 13.86% in second quarter compared to 14.78% year ago.

The average tariff of electricity of the company was Rs 3.25 per unit during April-September period this financial year as per the statement.

The NTPC Group including its subsidiaries and joint venture have total installed power generation capacity of 47,228 Mw as on September 30, 2016.

The company's standalone power generation capacity as on September 30, 2016 was 40,262 Mw, it stated in its performance highlights.