Riding on the back of improved capacity addition and higher generation and reduction in raw material cost, country’s leading power generator, NTPC Ltd on Monday reported a 22 per cent jump in net profit for the quarter ended December at Rs. 2,596.7 crore during the third quarter as compared to Rs. 2,130.3 crore during the same period last year.
An official statement issued here said the profit growth is mainly attributed to higher generation capacity addition. The company has been successful in commissioning a 500 MW unit at Rihand thermal power project during the third quarter. Overall, the company added 3,820 MW during the entire calendar year 2012.
The total income of the company grew 1.7 per cent 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 per cent to Rs. 48,324 crore between October and December this year. 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 12th 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) closed at Rs. 161.7, down 1.4 per cent.
In a related development, Minister of State for Power (Independent), Jyotirditya Scindia said government will re-allocate its three forfeited coal blocks to NTPC after an approval by the Lowe Ministry. The three coal blocks -- Chatti-Bariatu, Kerandari and Chatti-Bariatu (South) -- would be re-allocated to NTPC by Tuesday most likely. “The whole issue of coal blocks that have to be re-allocated to NTPC will be done by tomorrow ... blocks will be re-allocated to NTPC post Ministry of Law's opinion on that matter,” he told reporters here. Coal blocks allotted to NTPC were taken back by the government in 2011 due to delay in developing these mines.
Keywords: NPTC Q3 results