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NTPC Q2 profit surges 36% to Rs 3,409 crore on lower tax, higher income

NTPC Q2 results: For the quarter under review, tax expenses were down 17.4 per cent YoY at Rs 1,130 crore, aided by cut in corporate tax rate by the government

twitter-logo BusinessToday.In   New Delhi     Last Updated: November 9, 2019  | 21:16 IST
NTPC Q2 profit surges 36% to Rs 3,409 crore on lower tax, higher income
Gross power generation of the NTPC Group for the July-September 2019 was 61.64 billion units (BU) as against 65.98 BUs in the same period of 2018

State-run power giant NTPC on Saturday reported 38 per cent year-on-year (YoY) jump in its consolidated net profit to Rs 3,408.92 crore for the second quarter ended September 30, 2019, helped by decline in tax and higher income.

"The company clocked consolidated net profit of Rs 2,477.28 crore in the same period last year," NTPC said in a filing to the Bombay Stock Exchange.

NTPC's total income on a consolidated basis increased to Rs 26,274.66 crore in Q2FY20 from Rs 23,566.65 crore in the same quarter last year.

The earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 18.2 YoY to Rs 6,823.2 crore and margin expanded 316 basis points to 27.89 percent in Q2FY20.

For the quarter under review, tax expenses was down 17.4 per cent YoY at Rs 1,130 crore, aided by cut in corporate tax rate by the government.

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For the half year ended September 30, 2019, consolidated net profit stood at Rs 6,249.20 crore, while total income was at Rs 51,546.79 crore.

The company's board also accorded approval for the amalgamation of its arms Nabinagar Power Generating Company Ltd and Kanti Bijlee Utpadan Nigam Ltd with NTPC, subjected subject to necessary approvals, it said in the exchange filing.

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Gross power generation of the NTPC Group for the July-September 2019 was 61.64 billion units (BU) as against 65.98 BUs in the same period of 2018. The average power tariff of the firm was Rs 3.74 per unit in the quarter under review.

The company's plant load factor or capacity utilisation (PLF) of coal-based projects declined to 64.28 per cent in the second quarter from 72.63 per cent a year ago. Its domestic coal supply dipped to 35.34 million tonne in the September quarter of this fiscal from 39.60 million tonne a year ago. Coal imports by the company rose to 0.62 million tonne in the said quarter from 0.11million tonne a year ago.

As of September 30, 2019, NTPC Group's total installed capacity increased to 57,106 MW, from 53,651MW in the same quarter previous year.

Edited by Chitranjan Kumar

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