NTPC reports record Q3 net profit of Rs3,074 crore

State-run power producer NTPC Ltd has reported the highest ever quarterly profit of Rs3,074 crore in the three months ended 31 December 2015, recording a seven per cent year-on-year growth from the Rs2,861 crore net profit in the similar quarter of the previous fiscal.

The company said in a statement that the profit is the highest recorded by the company for the third quarter, adding that the increase in profit came despite a marginal drop in net revenue.

The company's net revenue for the quarter stood at Rs19,339 crore against Rs19,589 crore in the similar quarter last year.

For the nine-month period of the 2014-15 ended 31 December, NTPC said its unaudited after-tax profit stood at Rs7,346.83 crore against Rs7,881.20 crore in the corresponding period of the previous financial year.

Total income for the nine-month period of FY 2014-15 stood at Rs55,476.00 crore against Rs53,039.83 crore during the corresponding period of the previous year, an increase of about 5 per cent.

The board of directors of the company at its meeting today recommended interim dividend of 75 paise (7.50 per cent) per equity share for FY2014-15. The dividend will be paid on 13 February 2015.

NTPC had paid dividend of Rs1.75 per share during September 2014. Further, the company proposes to issue bonus debentures of face value Rs12.50 against each equity share of Rs10, under a scheme of arrangement, subject to requisite approvals under applicable laws. The shareholder will get a benefit of Rs15.00 per share under the debenture issue, NTPC said.

NTPC said gross power generation for Q3 grew to 61.310 billion units from 59.129 billion units in the corresponding quarter of the previous year, up around 4 per cent. For nine-month period of FY 2014-15, gross generation was 179.864 billion units against 170.653 billion units in corresponding period of previous year, an increase of over 5 per cent.

NTPC currently has an installed capacity of 43,143 MW.

The NTPC scrip was up 1.34 per cent at Rs143.75 in afternoon trade on the Bombay Stock Exchange (BSE).