The Hindu Business Line : NTPC's Q3 net profit up marginally at Rs 2,372 crore

NTPC Ltd has reported a marginal improvement in the net profit for the third quarter of the current fiscal at Rs 2,372 crore, up from the Rs 2,365 crore declared during the corresponding quarter in the preceding fiscal. This was despite a strong topline growth and lower depreciation during the quarter.

Total income for the latest quarter was up 18 per cent at Rs 14,165.90 crore, the company said in a statement. Depreciation for the quarter was lower by Rs 54.86 crore due to a revision in the accounting policies, which boosted the profit before tax for the period by Rs 145.72 crore.

The company also said it expects expenses incurred on its Loharinag Pala hydro project to be reimbursed after the Power Ministry asked it to discontinue the project due to environmental issues. The Centre had, on August 21, scrapped the project, which was under construction in Uttarakhand, as environmentalists protested, citing the impact of diverting a river.

NTPC, which is the country's biggest power generator, has a generation capacity of 33,194 MW, including its units and joint ventures. According to the statement, the Board of Directors of the company have recommended an interim dividend at 30 per cent of paid up equity share capital for the year 2010-11 in their meeting held on Monday. The dividend will be paid on February 14. NTPC is on its course to become a 75,000 MW company by the year 2017 primarily through its regulated tariff route by signing Power Purchase Agreement, the company said.

The NTPC stock was down 1.51 per cent at Rs 188.90 after the close of Monday's trade on the BSE. The 52-week high for the share was Rs 222.20 while the corresponding low was Rs 175.20.