NTPC net falls 2.3% on higher borrowing

State-owned power giant NTPC on Monday reported a decline of 2.3 per cent in its stand-alone net profit at Rs 2,438.60 crore for quarter ended September due to higher borrowing and depreciation cost. The firm’s net profit was Rs 2,496.98 crore in the quarter ended on September 30, 2016, NTPC said on Monday. 
 

According to the statement, the total income of the firm rose to Rs 19,960.35 crore in second quarter compared to Rs 19,588.56 crore a year ago.

The depreciation costs rose to Rs 1,712.68 crore in the second quarter from Rs 1,434.15 crore a year ago. Similarly the finance cost increased to Rs 919.47 crore in the quarter from Rs 889.83 crore a year ago. Its net profit in April-September period stood at Rs 5,056.77 crore compared to Rs 4,836.60 crore in the same period of the last financial year.

Total income in the first half of FY18 was Rs 40,502.28 crore, against Rs 38,809.36 crore a year ago. The firm said that average tariff during the first half of this financial year was Rs 3.21 per unit. The gross power generation of the firm was up at 129.45 billion units (BUs) in April-September this financial year compared to 125.14 BUs a year ago. Its gross electricity generation also rose to 64.04 BUs in the quarter ended September compared with 60.59 BUs in the year ago period.