Public sector power generation giant NTPC on Monday said it was on a Rs 17,000-crore expansion path in the current year as it reported a 27 per cent jump in its net profit to Rs 2,194 crore for the quarter ended June against Rs 1,727 crore in the corresponding quarter last year.
The company’s total income for the quarter was up 24.6 per cent at Rs 12,779 crore compared with Rs 10,257 crore in the corresponding quarter of the previous year.
During the quarter under review, net sales went up to Rs 12,003 crore compared to Rs 9,540 crore in the corresponding period last year, an increase of 25.8 per cent.
Shares of NTPC closed at Rs 214, up 1.7 per cent on the Bombay Stock Exchange.
RS Sharma, chairman and managing director, NTPC, said the company will add 3,300 mega-watt (MW) capacity in the current fiscal year. “The company is spending Rs 17,000 crore for capacity expansion this year.”
NTPC has a total installed capacity of 30,644 MW through 26 power stations, including joint ventures. The company currently has 17930 MW under construction and aims to become 50,000 MW by 2012.