The NTPC Ltd. power station stands in Dadri, India. (Photographer: Pankaj Nangia/Bloomberg)

Q1 Results: NTPC’s Profit Misses Estimates 

NTPC Ltd.’s profit for the quarter ended June missed analyst estimates, as expenses rose by more than Rs 2,000 crore versus the same period last year.

Net profit for the state-run power producer fell 1.1 percent year-on-year to Rs 2,588.1 crore in the April-June period. That compares to the Rs 2,691 crore consensus estimate of analysts tracked by Bloomberg. The bottom line declined 11.57 percent, on a sequential basis.

Revenue also fell for the first time in four quarters, declining 14.2 percent year-on-year to Rs 22,703.6 crore, but came in higher than the Bloomberg consensus estimate. The power generation vertical saw its revenue rise 10.3 percent from last year to Rs 21,983.6 crore.

The earnings before interest, tax, depreciation and amortisation during the June quarter grew 18.1 percent from the year-ago period to Rs 5,954.8 crore. The company’s margin, however, contracted 80 basis points from last year to 26.2 percent.

The power distributor is planning to raise up to Rs 12,000 crore through non-convertible debentures or similar means, it said in an exchange filing. The government also plans to sell its 3 percent stake in NTPC to raise up to Rs 3,700 crore, according to agency PTI.