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NTPC Q1 profit dips 6% to Rs 2,949 crore, revenue down 3%

NTPC Q1 results: Consolidated revenue slipped by 2.57 per cent to Rs 26,194.76 crore as compared to Rs 26,886.22 crore in Q1 FY20

twitter-logoBusinessToday.In | August 14, 2020 | Updated 17:00 IST
NTPC Q1 profit dips 6% to Rs 2,949 crore, revenue down 3%
Following Q1 earnings, shares of NTPC ended day's trade at Rs 88.40, up 1.38 per cent, on the BSE

State-owned power utility company NTPC on Friday reported a 5.9 per cent year-on-year (YoY) decline in consolidated net profit at Rs 2,948.94 crore for the first quarter ended June 30, 2020. The power generation and distribution company had posted net profit of Rs 3,132.73 crore in the corresponding quarter a year ago.

Consolidated revenue slipped by 2.57 per cent to Rs 26,194.76 crore as compared to Rs 26,886.22 crore in Q1 FY20, NTPC said in a regulatory filing.

Profit before exceptional item and tax jumped 16 per cent YoY to Rs 4,278 crore, while total tax expense rose 24 per cent YoY to Rs 1,386.58 crore during June quarter of 2020.  

Consolidated EBITDA jumped 21.6 per cent to Rs 8,947.7 crore versus Rs 7,358.7 crore in Q1 FY20. EBITDA margin stood at 34.2 per cent against 27.4 per cent in the year ago period.

Also Read: NTPC reports incremental borrowings of Rs 24,056 crore for FY20

On the standalone basis, the company report net profit of Rs 2,470.16 crore against revenue of Rs 23,453.46 crore during the April-June quarter of the current fiscal. The revenue includes Rs 880.97 crore on account of sale of energy through trading.

In wake of COVID-19 outbreak, NTPC allowed a rebate of between 20-25 per cent on the capacity charges during the lockdown period subject to approval of board, in accordance with the announcement of government under the Atma Nirbhar Bharat special economic and comprehensive package. An amount of Rs 1,363 crore has been approved by the board for the same. During the quarter, the company has accounted a rebate of Rs 836.76 crore in respect of beneficiaries fulfilling conditions.

Also Read: NTPC's Singrauli Unit 1 top-electricity generating plant in Q1

NTPC group's total installed capacity increased to 62,110 MW as on June 30, 2020 as compared to 55,126 MW in the same period last year. The group's commercial capacity rose by 7,634 MW to 61,960 from 54,326 MW in Q1 FY20.

Following Q1 earnings, shares of NTPC ended day's trade at Rs 88.40, up 1.38 per cent, against previous closing price of Rs 87.20 on the Bombay Stock Exchange.

By Chitranjan Kumar


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