NTPC posts 21% drop in net profit to Rs 2,492.90 crore in Q2; better than estimates

NEW DELHI: NTPC, India's largest power company, has reported a 20.66 per cent YoY fall in net profit to Rs 2,492.90 crore for the quarter ended September 30. Results came in slightly better than estimates as analysts polled by ET Now had estimated a net profit of Rs 2,350 crore for the quarter.

The state-run firm had posted Rs 3,142.35 crore net profit in the corresponding quarter of the last fiscal year.

Total income has decreased from Rs 17,170.93 crore for the quarter ended September 30, 2012, to Rs 17,059.41 crore for the quarter ended September 30, 2013.

Shares of NTPC closed 1.2 per cent higher at Rs 145.90. They hit a high of Rs 146.50 and a low of Rs 143.10 in trade today.

Net sales for the state-run firm came in flat at Rs 16,415 crore, up 0.4 per cent, for the second quarter of the fiscal year 2014, as compared to Rs 16,351 crore reported in the year-ago period.