NTPC posts 38% rise in consolidated net profit at Rs 3,409 cr in Q2

State-run power giant NTPC on Saturday posted around 38 per cent rise in its consolidated net profit at Rs 3,408.92 crore in the quarter to September 2019, driven by higher revenues.

The company had reported Rs 2,477.28 crore consolidated net profit in the corresponding quarter a year ago.

Total income rose to Rs 26,274.66 crore in the second quarter from Rs 23,566.65 crore a year ago, the company said in a BSE filing.

For the six-month period (April-September), consolidated net profit came in at Rs 6,249.20 crore over Rs 5,166.24 crore a year earlier.

Total income in the first half of this fiscal stood at Rs 51,546.79 crore, up from Rs 47,715.15 crore in the same period a year ago.

The board of directors in its meeting held on Saturday also accorded approval for the amalgamation of its arms Nabinagar Power Generating Company Ltd and Kanti Bijlee Utpadan Nigam Ltd with NTPC Ltd.

The amalgamation is subject to necessary approvals, the company said.

The company's average tariff during the first half of this fiscal was Rs 3.74 per unit. The gross power generation of the company dipped to 61.64 billion units (BU) in the second quarter from 65.98 BU year ago. Similarly, the gross power generation also dropped to 130.14 BU from 153.20 BU a year ago.

The plant load factor (PLF) or capacity utilisation of coal-based power plants of the company also declined to 64.28 per cent in the second quarter from 72.63 per cent a year ago. The PLF of coal-based plants was also down in the first half of the fiscal to 69.04 per cent from 75.29 per cent a year ago.

Its domestic coal consumption fell to 35.34 million tonnes in the second quarter from 39.60 million tonnes year ago. Coal imports increased to 0.62 million tonnes in the second quarter from 0.11 million tonnes a year ago.