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NTPC beats street estimates, Q2 net up 15% at Rs 2424 cr
NTPC, India's largest power generation company, has reported better than expected growth of 15% in net profit of Rs 2,424 crore for the second quarter of FY12 as against Rs 2107.4 crore in the corresponding quarter of last fiscal.
NTPC, India's largest power generation company, has reported better than expected growth of 15% in net profit of Rs 2,424 crore for the second quarter of FY12 Year-on-Year (y-o-y). Net Sales also grew 18.4% to Rs 15,378 crore.
These results beat an estimate of CNBC-TV18 poll which saw the company's profit at Rs 2,107.52 crore. However, net sales were lower then estimates of Rs 13,832.
In a filing to the Bombay Stock Exchange (BSE), the company said its depreciation cost went up 72% at Rs 868 crore y-o-y, its employee cost also surged 11% at Rs 784.81 crore.
Meanwhile, shares of the company climbed 2% at Rs 174.05 post the announcement of the results.
For the six-month period, its net profit increased by 14% to Rs.4,499.90 crore from the Rs.3,949.27 crore in the corresponding period last year. Total revenue, including other operating income and depreciation written back and advance against depreciation recognised as prior period sales totaled Rs.30,233.39 crore, up by 9% y-o-y.
