Updated: 30. Oct. 2022 14:31 IST
New Delhi [India], October 30 (ANI): State-owned power giant NTPC posted a 7.4 percent decline in its profit after tax to Rs 3,417.67 crore for the quarter ended September 30, against Rs 3,977.77 crore in the year-ago period. Fuel and finance costs impacted the New Delhi-headquartered company’s performance during the quarter.
Income from operations for the revised quarter was Rs 4,4175 crore from Rs 32,403.58 crore in the year-ago period, a jump of 36.3 percent over the previous year, according to the company’s statement shared with exchanges on Saturday evening.
The revenue percentage was posted at 62 percent in the quarter reviewed, against 55 percent in the year-ago period. The company’s performance was hit by a 6.2 percent increase in fuel costs during the quarter.
The finance charges rose to Rs 2,737.09 crore in the audited quarter from Rs 1,943.62 crore in the year-ago period. This also affected the company’s consolidated performance.
Recently, India’s largest power producer NTPC said it recorded production of 203.5 BU from April to September 2022, registering an increase of 15.1 percent compared to 176.8 BU recorded in the corresponding period last year, according to data published by the ministry of power.
The high generation growth indicated improved performance and an increase in demand for power in the current year, the ministry said in a statement.
NTPC Rihand (3000 MW) in Uttar Pradesh was the most efficient thermal power plant with 90.22 percent Plant Load Factor (PLF) between April to September 2022, according to the power ministry statement. Total plant load factor of NTPC coal stations was 76.3 percent from April to September 2022, a testimony to the high levels of operational excellence and the expertise of NTPC in operation and maintenance of the power plants, the ministry said.
India’s largest power producer is also targeting a 10 percent reduction in net energy intensity by 2032. NTPC is the first energy company to declare its energy compact goals as part of the UN’s High Level Dialogue on Energy (HLDE). (ANI)