NTPC Q3 Results: Profit Meets Estimates As Other Income Rises
NTPC Ltd.’s quarterly profit rose as expected on higher other income.
Net profit of the state-run power generator increased 25.6 percent year-on-year to Rs 2,995 crore in the quarter ended December, according to an exchange filing. That’s in line with the Rs 2,948.2-crore consensus estimate of analysts tracked by Bloomberg.
Its other income jumped nearly threefold over the last year to Rs 540.63 crore.
The company’s revenue, however, fell 2.6 percent over last year to Rs 23,496.4 crore in the three months ended December. That’s the estimated Rs 23,437.5 crore.
NTPC’s earnings before interest, tax, depreciation and amortisation rose 6 percent year-on-year to Rs 6,976.4 crore.
Besides, India’s largest power firm by capacity commenced commercial operation of unit-1 of 660-megawatt Khargone (Madhya Pradesh) super thermal power station earlier this year. “With this, the commercial capacity NTPC and NTPC group will become 48,645 MW and 57,106 MW, respectively,” the filing said.
Shares of NTPC ended Friday’s trade 3.2 percent higher than their previous close before the results were announced. That compares with the benchmark Nifty 50 Index’s 0.33 percent drop.