Millennium Post

NTPC energises Q1 profit by 4% on higher power generation

The company's standalone net profit in the quarter ended June 30, 2015, was Rs 2,276.50 crore, NTPC said in a BSE filing.

According to a company official the rise in net profit has been due to increased generation and better ulilisation of its capacities. The company's gross power generation during the quarter ended June 30, 2016, rose almost 10 per cent to 64.55 billion units (BUs), over 58.69 BUs year ago.

The company's plant load factor (PLF) or proportion of generation capacity utilised at coal based plants was 81.35 per cent in April-June quarter as compared to 77.58 per cent in the same period last fiscal.

The gross sales of the company in the first quarter was up 11.34 per cent at Rs 18,939.81 crore compared with Rs 17,010.35 crore in the year ago period. The company's average tariff during the quarter was Rs 3.12 per unit. It was Rs 3.18 a unit in the last fiscal.

The company further said during the quarter, one thermal unit of 250 mw at Bongaigaon thermal power project with effect from April 1, 2016 and solar units of 200 mw at NP Kunta Ultra Mega Solar Power project at Anantapuram with effect from May 9, 2016 have been declared commercial.

The stock of the company ended at Rs 163.55 a piece on BSE, down 1.92 per cent.  Keeping pace with the surge in generation, total unaudited income in first quarter on the ongoing fiscal increased by 11 per cent over previous corresponding quarter, NTPC said in a statement. "The unaudited total income for the Q1 FY 2016-17 was Rs 19,220.80 crore as against the unaudited total income of Rs 17,333.91 crore in the Q1 FY 2015-16," the statement said.

The unaudited profit after tax for the first quarter of FY'7 was Rs 2,369.53 crore as compared to the unaudited profit after tax of Rs 2,276.50 crore declared for the corresponding quarter of previous year, an increase of over 4 per cent. 

PSU seeks shareholders' nod to raise up to RS 15,000 Cr via bonds
NTPC has sought shareholders' approval to raise up to Rs 15,000 crore through issuance of debentures/bonds on private placement basis. The funds would be raised in one or more tranches/series not exceeding 30, through private placement, in domestic market for capex, working capital and general corporate purpose, NTPC said in a statement. 

The company will seek shareholders' approval for the same in its next AGM on September 20, 2016. The funds would be mobilised during the period commencing from the date of passing of special resolution till completion of one year thereof or the date of next AGM in 2017-18 fiscal, whichever is earlier. Last month, the company's board had considered and approved issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/ non-cumulative, non-convertible debentures ("bonds/NCDs") up to Rs 15,000 crore. 

The shareholders will also consider a special resolution to appoint Gurdeep Singh as CMD of the company. He was appointed as CMD of NTPC by government on January 28, 2016 for a period of five years and was accordingly appointed as an Additional Director from February 4, 2016 to hold office up till the AGM next month. Shareholders will also consider a proposal to appoint a Director in place of Kulamani Biswal. 
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