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NTPC to buy back shares worth Rs 2,275 cr as part of restructuring plan

Gets board nod to buy back up to 197.8 mn quity shares; thermal power giant registers 4.8% growth in profit in Q2

Topics
NTPC | Share buybacks | Disinvestment

Shreya Jai  |  New Delhi 

NTPC
NTPC registered a profit before tax (PBT) of Rs 3,666.93 crore during July-September period, a 4.84 per cent increase over the corresponding period last fiscal.

India’s largest power generating company, state-owned NTPC, on Monday received the board’s approval for a share buyback. The board of directors approved the buyback of up to 197.8 million equity shares for Rs 2,275.74 crore, as part of capital restructuring, said the company in a statement.

In a filing with the BSE, said: “The board of directors of the company in a meeting held on November 2, 2020, has inter-alia approved buyback of the fully paid-up equity shares of the company of face value of Rs 10 each.” The board approved the proposal for buying back 197.8 million fully paid-up equity shares at Rs 115 per unit for an aggregate consideration not exceeding Rs 2,275.75 crore, according to the filing.

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The Centre is relying on the share buyback by select public sector utilities to meet its target of Rs 2.1 trillion for 2020-21. Reports suggest firms that may consider buybacks are Coal India, Kudremukh Iron Ore, RITES, NMDC, and Engi­neers India.


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The company also declared its second-qua­rter results on Monday. registered a profit before tax (PBT) of Rs 3,666.93 crore during the July-Septe­mber period, a 4.84 per cent increase over the corresponding period last financial year. On a half-year basis, the PBT was Rs 6,564.72 crore, against Rs 6,660.11 crore in H1FY20. On a standalone basis, in Q2 FY21, total income was Rs 26,023.33 crore, against Rs 23,658.23 crore in Q2FY20.

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First Published: Mon, November 02 2020. 19:00 IST
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