Lower gross generation has led NTPC Ltd to a 19 per cent drop in net profit for the third quarter of 2015-16 at Rs.2,492.87 crore against Rs.3,074 crore in the same quarter last year.
The public sector company’s net revenue for the quarter stood at Rs.17,413.31 crore, a 7.6 per cent drop, over Rs.18,857 crore in the same quarter last year.
NTPC’s gross generation in the third quarter was 60.787 billion units, 0.91 per cent lower than the same quarter last year. “During the quarter, plant load factor has increased by about one percentage point to 78.23 per cent in the third quarter from 77.27 per cent in the second quarter of fiscal 2015-16,” an official statement said.
The board of directors also agreed to pay an interim dividend at 16 per cent or Rs.1.60 per share. The dividend shall be paid on February 15.
In another significant decision, NTPC approved an investment of Rs.10,598 crore for Telangana Super Thermal Power Project’s Phase 1. Under the first phase, 1,600 MW of capacity will come up.
“Power purchase agreements have been signed with Southern Power Distribution Company of Telangana Ltd and Northern Power Distribution Company of Telangana Ltd. The commercial operation date of the first unit is envisaged in 52 months and the second unit at an interval of six months thereafter,” an official statement said.
Meanwhile, in another decision, NTPC said its board had approved the award of contract “for balance work of main plant package (SG &Aux) after certain amendments to original scope of work) for Barh Super Thermal Power Project-I (3x660 MW) to Doosan Power Systems India Ltd, Gurgaon.”
NTPC had earlier cancelled a Rs.2,000-crore contracted awarded to the Russian state-owned firm Technoprom Export (TPE) for the supply of main power equipment for the Barh Stage-I project in Bihar.
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