State-owned power giant NTPC reported 1.14 per cent decline in standalone net profit to Rs 2,588.14 crore for the first quarter ended June 30, due to higher depreciation, borrowing cost and expenditure on fuel.
The company’s had posted Rs 2,618.17 crore standalone net profit in the corresponding period last fiscal, it said in a BSE filing.
NTPC Q1 results: Net profit slips 1.14% to Rs 2,500 crore; revenue up 11%
According to the statement, the company’s total revenues in the quarter rose 11 per cent to Rs 22,839.98 crore from Rs 20,541.93 crore in the year-ago period.
The company provided Rs 1,860.15 crore for depreciation, amortisation and impairment expenses in the first quarter, which were higher than Rs 1,570 crore in the same period last fiscal.
Similarly, its borrowing cost increased to Rs 1,219.93 crore from Rs 895.60 crore. The fuel cost also rose to Rs 13,118.74 crore in the quarter under review from Rs 11,940.11 crore a year ago.
Besides, the board also “approved the issue of secured/ unsecured, redeemable, taxable/ tax-free, cumulative/ non-cumulative, non-convertible debentures (‘Bonds/NCDs’) up to Rs 12,000 crore during the period commencing from the date of passing of Special Resolution in the ensuing Annual General Meeting till completion of one year thereof or the date of next Annual General Meeting in the financial year 2019-20 whichever is earlier,” the company said.
The company’s gross power generation in the quarter stood at 69.21 billion units (BU), up 7.45 per cent from 64.41 BU a year ago.
Its plant load factor (PLF) or capacity utilisation of coal based plants has come down by 1.07 per cent at 77.98 per cent in the quarter compared to 79.05 per cent a year ago.
The average power tariff of the company during the quarter was Rs 3.36 per unit.