Moneycontrol Bureau
India's largest power generation company NTPC said profit in April-June quarter grew by 4.1 percent year-on-year to Rs 2,369 crore. In Q1FY16, its profit was supported by a tax credit of Rs 422 crore.
Total income from operations during the quarter increased 11.5 percent to Rs 19,063 crore on yearly basis, with generation revenue growing 11.6 percent.
Topline and bottomline met analysts' expectations whereas operational performance was ahead of estimates. A CNBC-TV18 poll had estimated profit at Rs 2,346 crore on revenue of Rs 18,487 crore for the quarter. Operating profit was estimated at Rs 4,838 crore and margin at 26.2 percent.
Earnings before interest, tax, depreciation and amortisation (EBITDA - operating profit) in Q1 shot up 66 percent to Rs 5,210.5 crore and margin expanded by 670 basis points to 27.3 percent compared to year-ago period.
Tax expenses for the quarter stood at Rs 706.6 crore, NTPC said, adding other income fell 34.4 percent to Rs 158 crore on yearly basis.
Generation segment's earnings before interest and tax grew by 56.1 percent year-on-year to Rs 4,163.2 crore in the quarter ended June 2016.NTPC said coal plant load factor improved to 81.35 percent during the quarter from 77.58 percent in same period last year. Average tariff in Q1 was at Rs 3.12 per unit against Rs 3.18 per unit in FY16.
At 14:55 hours IST, the scrip of NTPC was quoting at Rs 163.65, down Rs 3.10, or 1.86 percent on the BSE.
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