NTPC Q2 profit up 15%

NTPC Limited, the country’s largest power generating company having an installed capacity of 34,854 Mw, on Tuesday announced an unaudited profit after tax (PAT) of Rs 2,424.12 crore for the quarter ended September 30, a 15 per cent increase over Rs 2,107.38 crore in the corresponding period last year.

The company’s total income for the second quarter showed growth of 20.38 per cent. Total income rose to Rs 16,386.87 crore from Rs 13,612.04 crore in the corresponding period of last year.

For the first half of 2011-12, the unaudited total income is Rs 31,554.76 and PAT is Rs 4,499.90 crore compared to Rs 27,128.35 crore and Rs 3,949.27 crore, respectively, for the corresponding period last year.

The company’s performance was boosted by a better-than-expected top line growth though it was also helped in part by Rs 759 crore payment pertaining to previous years recognised on the orders issued by the Central Electricity Regulatory Commission/ Appellate Tribunal for Electricity and another Rs 50 crore on account of income tax recoverable from customers.

In a filing to the Bombay Stock Exchange (BSE), the company said its depreciation cost went up 72 per cent at Rs 868 crore year-on-year, its employee cost also surged 11 per cent at Rs 784.81 crore.

During the first half of 2011-12, the firm reported net profit of Rs 4,500 crore, up 14 per cent over the first six months of the previous year. Total income during the period was up 16 per cent at Rs 31,554.76 crore. NTPC has an installed capacity of 34,854 Mw. Shares of the company ended 1.4 per cent up at Rs 173.60 on the BSE.