NTPC Q3 Profit Soars to Rs 3,315 crore, Announces Interim Dividend

Cricket13

Editor

posted on 3 years ago — updated on 1 second ago

35
views

The state-owned power giant announced a 10 percent increase YoY, as its net profit was Rs 2,995 crore during the same period in the previous year.

India’s largest energy conglomerate – NTPC Limited, formerly known as the National Thermal Power Corporation Limited (NTPC), on Thursday reported a net profit of Rs 3,315 crore for the quarter which ended on December 31, 2020 (Q3 FY21). The state-owned power giant announced a 10 percent increase YoY, as its net profit was Rs 2,995 crore during the same period in the previous year.

Further, the state-run company’s board approved an interim dividend of Rs 3 per share for the current financial year (2020-21). The company also revealed that the date of payment/dispatch of dividend shall be February 26. The company has a good dividend track report and has consistently declared dividends for the last five years.

NTPC Limited’s shares were trading 2 percent higher at Rs 99.85 as compared to the previous close of Rs 97.2. Its net profit rose nearly to 16 percent to Rs 3,876.36 crore for the December quarter, mainly due to higher revenues. According to a BSE filing, its revenue from operations also rose to Rs 24,509 crore in the quarter that ended on December 31, 2020, when compared to Rs 23,496 crore in the same quarter a year earlier.

The gross power generation of NTPC Group in the December quarter of this fiscal was at 65.41 billion units (BU) as against 61.21 BUs in the period a year ago. The average power tariff of the company was Rs 3.87 per unit in the first nine months of the current financial year. The energy major’s Plant Load Factor (PLF) or capacity utilisation of coal-based projects was 64.31 per cent in the quarter under review as compared to 63.48 per cent in the same period in the previous year.

The company’s domestic coal supply rose to 45.55 million tonnes in the latest December quarter from 44.45 million tonnes in the same period last year. Moreover, the company’s coal imports dipped to 0.25 million tonnes in the third quarter of this fiscal compared to 0.64 million tonnes in the same period a year ago.

However, the Indian PSU’s gas-based project’s PLF also fell to 6.76 per cent in the December quarter from 10.35 per cent in the same period a year ago. The group’s total installed capacity increased to 62,975 MW as on December 31, 2020.

Read all the Latest News, Breaking News and Coronavirus News here