NTPC Q3 net almost unchanged despite an over 18 per cent rise in revenue
31 Jan 2011
National Thermal Power Corporation Ltd (NTPC) has posted a net profit of Rs2,371.48 crore for the quarter ended 31 December 2010 against a net profit of Rs2,364.98 crore in the quarter ended 31 December 2009.
NTPC, the country's largest power sector utility, said its total income has increased by 18.43 per cent to Rs14,165.90 crore during the quarter ended 31 December 2010 against Rs11,961.31 crore during the quarter ended 31 December 2009, unaudited results released by the state-controlled company showed.
The rise in net profit, although modest and coming from a revision in depreciation policy, comes against wider analyst expectatons of a decline in NTPC's profitability.
NTPC, which failed to meet capacity-addition targets last year because of equipment delays, now plans to accelerate construction of plants. The power utility is planning to buy equipment worth around $36.6 billion over the next two years to ramp generation capacity.
The NTPC stock closed 1.5 per cent lower at Rs189.05 in Mumbai ahead of announcing the results. The stock has dropped 12 per cent in the past year compared with a 12 per cent increase in the BSE Sensex.
NTPC and its allied units have total installed capacity of 33,194 megawatts, according to the company website.
India, with current installed capacity of 169,749 megawatts as of end-December 2010, is targeting an increase to 200,000 megawatts by 2012.
.webp)
