Despite a decline in total income, NTPC posted a marginal rise in net profit at Rs.2,527.02 crore in the first quarter ended June 30, 2013, against Rs.2,498.67 crore in the year-ago period. Total income from operations dropped to Rs.15,661.85 crore from Rs.16,165.95 crore. However, lower expenses helped the company report a marginally higher quarterly net profit. Total expenses fell to Rs.12,289.94 crore from Rs.13,092.66 crore.
Meanwhile, the company said the variation related to coal prices on gross calorific value (GCV) basis, worth about Rs.3,523.18 crore at the end of June this year, had been considered as contingent liability.
From December 2011, the grading and pricing of non-coking coal was changed to GCV basis from the earlier Useful Heat Value (UHV) system.