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NTPC profit declines marginally

business Updated: Oct 26, 2010 21:27 IST

State-run NTPC on Tuesday announced a marginal decline in its net profit of about 2 per cent at Rs2,107 crore in the July-September quarter.

The company had reported a net profit of Rs2,152 crore during the corresponding quarter last year.

The company clocked a growth of 20.5 per cent in its net sales, which was at Rs12,990 crore, as against Rs10,783 crore reported for the quarter ended September 30, 2009-10, it said in a filing to the Bombay Stock Exchange. However, the company did not any specific reason for the fall in its net profit.

Power generation capacity of the company went up by 3.8 per cent during the second quarter and the company, currently has an installed capacity of 32,194 MW.

The company also informed the Exchanges that the government has decided to scrap 600 MW Loharinag-Pala in Uttarakhand in October due to environmental issues, for which it is "confident of reimbursement of the cost" by the government.

The filing added that NTPC has incurred a cost of Rs692 crore on the project.