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NTPC Q3 profit soars 22% to Rs 2,597 cr

Last Updated: Mon, Jan 21, 2013 11:11 hrs
(Blank Headline Received)

NTPC Ltd, India's largest power generator, reported a 21.8% jump in net profit for the quarter ended December at the back of improved capacity addition leading to higher generation and lower raw material cost. The company posted a net profit of Rs 2,596.7 crore during the third quarter as compared to Rs 2,130.3 crore during the same period last year.

"The profit growth is mainly attributed to higher generation capacity addition. We have successfully commissioned a 500 Megawatt (Mw) unit at the Rihand project during the third quarter. Overall, we added 3,820 Mw during the entire calendar year 2012," a senior company official said.



Total income of the company grew 1.7% from Rs 15,542 crore in the third quarter last year to Rs 15,807 crore during the same period this fiscal. For the nine months ended December, the company's net profit grew 24.2 cent to Rs 8,237.7 crore. Total income of the company also grew over 5% to Rs 48,324 crore between October and December this year.

Experts hailed the company's performance. "NTPC's good numbers including the high profit growth is largely attributable to the 6.4% decline in raw material cost quarter-on-quarter. Coal India's supply to the company has shown improvement allowing NTPC to absorb coal cost favorably. If this trend continues, share price will definitely react positively," Kishor P Ostwal, Chairman of Mumbai-based research house CNI Research said.

NTPC has a current installed power generation capacity of 39,674 Mw. The company has a target of adding 14,038 Mw capacity during the current Plan period. This would require an investment exceeding Rs 70,000 crore over the five year period ending March 2017. The company's share price at the Bombay Stock Exchange (BSE) today closed at Rs 161.7, down 1.4% as compared to previous close.

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