NTPC Q3 PAT jumps over 10%; Rs 2,500-cr dividend to govt

Country's largest thermal power producer NTPC today posted over 10 per cent rise in its profit after tax for the third quarter ended December 31, 2013 and announced that it will pay an interim dividend of nearly Rs 2500 crore to the government.
NTPC reported a profit after tax at Rs 2,861.28 crore for the third quarter ended December 31, mainly due to higher electricity generation.
The company had reported a profit after tax of Rs 2,596.76 crore in the corresponding period of 2012-13, NTPC said in a statement.
The state-run company also announced an interim dividend of nearly Rs 3,300 crore.

"The Board of Directors have recommended highest ever interim dividend at 40 per cent of paid up equity share capital being Rs 4.00 per equity share for the financial year 2013-14," statement said.
Central government, which holds 75 per cent stake in the company will get nearly Rs 2,500 crore by the way of dividend.

The dividend will be paid on February 10, 2014.
As per a company official, the rise in profit after tax can be attributed to higher PAF (plant availability factor) at its projects.
The PAF is the declared capacity or the total generation capacity of the plant.

The unaudited total income for the third quarter is Rs 19,554.07 crore as against Rs 16,541.04 crore reported for the corresponding quarter in previous financial year (2012-13), registering a growth of 18.22 per cent, the statement added.
For the nine-month period (April-December) of financial year 2013-14, the unaudited total income is Rs 52,972.26 crore and the unaudited profit after tax is Rs 7,881.20 crore.
Meanwhile, NTPC which was hopeful of commissioning its first hydro power project in Himachal Pradesh may have to wait for sometime as the project is likely to get further delayed due to faulty construction work at the site.

The company, which started the process of filling up of the reservoir of the 800-MW Koldam project, could not complete the exercise as the reservoir was unable to hold the water for the project.
"It will take around next four to five months to complete the repairs and only after that the filling up could be started," according to a company official.
At present, NTPC generates 42,454 MW of electricity and plans to add 14,000 MW in the current plan period (2012-17).