Dabhol impairment pulls NTPC's profit down 25%

The total revenue for FY17 was Rs 79,342.3 crore, up from Rs 72,009.2 crore in FY16

India’s largest power generation company, NTPC, has reported a 25.5 per cent decline in net profit to Rs 2,079 crore for the quarter ended on March 31, 2017, with the utility attributing the slump to “impairment of investment in the Ratnagiri Power plant, known as Dabhol project”. In a statement issued to the BSE, the firm said the impairment loss was of Rs 783 crore in Ratnagiri Gas And Power Pvt Ltd, a joint venture of the company. 

The company’s standalone net profit in 2016-17 was down to Rs 9,385.3 crore from Rs 10,770 crore in the previous financial year.