NTPC to invest Rs.10,598 crore in Telangana

Power generator NTPC Ltd on Friday said it closed the third quarter with a net profit of Rs.2,492.87 crore, lower than last year, but the company's board has declared an interim dividend of 16 percent and approved Rs.10,598.98 crore in a new project in Telanagana.

The company also said the board has approved award of balance of work for main plant package for Barh Super Thermal Power Project-I (3x660 MW) to Doosan Power Systems India Pvt Ltd, Gurgaon.

In a regulatory filing in BSE, the company said it has posted a net profit of Rs.2,492.87 crore for the quarter ended December 31, 2015 as compared to Rs.3,074 crore for the quarter ended December 31, 2014.

According to NTPC, the total income for the period under review stood at Rs.17,657.99 crore down from Rs.19,371.33 crore for the same quarter in the last fiscal.

Nevertheless the company's board has declared an interim dividend of 16 percent.

The company also said that the board has accorded approval for investing around Rs.10,598.98 crore for two 800 MW units at Telangana Super Thermal Power Project.

Power purchase agreements (PPA) have been signed with Southern Power Distribution Company of Telangana Ltd and Northern Power Distribution Company of Telangana Ltd.