NTPC’s first quarter net profit up 12.69 percent

July 25th, 2011 - 7:09 pm ICT by IANS  

New Delhi, July 25 (IANS) State-run power generation major NTPC Monday reported an increase of 12.69 percent in its net profit for the first quarter of 2011-12, which stood at Rs.2,075.78 crore as compared to Rs.1,841.89 crore in the corresponding period of the last fiscal.

“Total income has increased from Rs.135,163.10 million for the quarter ended June 30, 2010, to Rs.151,678.90 million for the quarter ended June 30, 2011,” the National Thermal Power Corporation (NTPC) said in a regulatory filing to the Bombay Stock Exchange (BSE).

The company has provisionally recognised sales worth Rs.12,819.33 crore during April-June 2011, due to pending determination of station-wise tariff by the Central Electricity Regulatory Commission (CERC) as against the corresponding previous quarter sales of Rs.11,931.11 crore.

“Pending determination of tariff by CERC, the company has to provisionally bill the beneficiearies as the tariff applicable as on March 31, 2009, approved by CERC,” the filing said, adding that sales also include Rs.8.93 crore on account of deferred tax recoverable from customers.”

The other income of the power producer reported an increase of 26.19 percent at Rs.644 crore from Rs 510.05 crore in the first quarter of 2010-11.

The company said its fuel cost had jumped 12 percent in the quarter under review to Rs.9,749.82 crore from Rs.8,702.31 crore in the corresponding quarter of the last fiscal.

The company’s scrip on the BSE closed at Rs.183.95, up 0.33 percent.

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