NTPC net down 23% on forex adjustment

"But for an adjustment of Rs 620 crore (Rs 346 crore for the current year and Rs 274 for the previous year adjustment) for forex rate variation, which is a pass-through for us, our profit would have been up 15 per cent," said a senior official of the Navratna company. The board also proposed an additional dividend of 8 per cent, which, in addition to the 27 per cent dividend already paid, would take the total dividend to 35 per cent.

 

The company's tax provision during the quarter was also much higher at Rs 812.1 crore (Rs 91.4 crore). While tax on generation income is a pass-through for the company, it has to bear the burden of tax from non-generation income.

For FY08, the company posted a net profit of Rs 7,469.9 crore, up 8.8 per cent, while net sales was up 18.4 per cent to Rs 38,635 crore.

NTPC has a power generation capacity of 29,144 mw