Millennium Post

NTPC powers Q3 net profit by 7% to record Rs3,074 cr

NTPC powers Q3 net profit  by 7% to record Rs3,074 cr
For the first nine months of fiscal 2014-15 as a whole, NTPC’s unaudited profit after tax is Rs 7,346.83 crore compared to Rs 7,881.20 crore in the corresponding period of the previous financial year.  For the third quarter of 2014-15, the unaudited total income was Rs 19,339.37 crore against Rs 19,589.01 crore for the corresponding quarter of the previous year.

The unaudited total income for April-December period of FY 2014-15 is Rs 55,476.00 crore against Rs 53,039.83 crore for the corresponding period of the previous fiscal, marking an increase of about 5 per cent.

At a meeting on Friday, the NTPC Board of Directors recommended an interim dividend of 7.5 per cent 75 paisa per equity share for 2014-15. The dividend will be paid on February 13. In September 2014, the company paid a dividend of Rs 1.75.

Further, the company proposes to issue bonus debenture of face value Rs 12.50 against each equity share of Rs 10 under a Scheme of Arrangement, subject to requisite approvals under applicable laws. Thus, the shareholder will get a benefit of Rs 15.00 per share.

With an installed capacity of 43,143 mw, NTPC also achieved a good operational performance for the third quarter as well as the nine-month period from April to December 2014. Gross generation for the third quarter grew to 61.310 billion units from 59.129 billion units for the corresponding quarter of the previous fiscal, up by around 4 per cent.

For the first nine months of fiscal 2014-15, gross generation was 179.864 billion units against 170.653 billion units in the corresponding period of previous year, an increase of over 5 per cent.

Earlier, NTPC restricted bidding for its three new solar power projects of a total 750 mw capacity to domestic companies, making it clear that foreign players would not be allowed to bid for them.
This comes at a time when the government is making a strong pitch for Make in India programme among overseas investors, including for the renewable energy. According to company sources, domestic entities will be permitted to bid for solar power projects having a combined capacity of 750 MW.

“These three projects of 250 MW capacity each are for domestic manufacturers,” the source said.
Refusing to divulge reasons for not permitting foreign companies to bid, sources said the Indian arms of foreign manufacturers would be free to participate in the company’s future solar projects.
Agencies

Agencies

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