NTPC Q1 PAT declines 6% to Rs 2949 cr

The power major's consolidated net profit declined 5.87% to Rs 2948.94 crore on 2.57% decline in revenue from operations to Rs 26194.76 crore in Q1 June 2020 over Q1 June 2019.

Profit before exceptional item and tax rose 16.10% to Rs 4,280 crore during the quarter. Total tax expense rose 24% to Rs 1386.58 crore in Q1 June 2020 over Q1 June 2019. The result was announced during market hours today, 14 August 2020.

NTPC reported exceptional cost of Rs 836.76 crore in Q1 June 2020. The PSU enterprise said that in accordance with the announcement of Government, to allow a rebate of 20%-25% on the capacity charges, the company has approved Rs 1510.47 crore for the 2020-21. During the quarter, the company has accounted a rebate of Rs 836.76 crore in respect of beneficiaries fulling conditions.

NTPC group's total installed capacity increased to 62,110 MW as on 31 March 2020 as against 55,126 MW as on 30 June 2019. The group's commercial capacity increased by 7,634 MW to 61,960 as on 30 June 2020 compared with 54,326 MW as on 30 June 2019.

Shares of NTPC were trading 1.43% higher at Rs 88.45 on BSE. The scrip traded in the range of Rs 86.85 to Rs 89.85 so far during the day.

NTPC is a maharatna company operating in the power generation business. The principal business activity of the firm is electric power generation through coal based thermal power plants. It also engages in the business of generation of electricity from hydro and renewable energy sources.

As of 30 June 2020, the Government of India held 51.02% in the PSU company.

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