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Our Bureau

New Delhi, Jan. 30 Faced with higher interest expenses and a surge in staff costs, NTPC Ltd on Wednesday reported a 15.37 per cent dip in net profit at Rs 1,779.9 crore for the quarter ended December 31, 2007.

The company’s total income, however, increased 8.4 per cent to Rs 10,093.2 crore during the quarter under review, from Rs 9,311 crore for the three-month period ended December 31, 2006, the company informed the BSE in a statement.

The dip in net profit during the latest reported quarter comes in the wake of higher interest and staff costs, with NTPC’s interest costs rising 66 per cent to Rs 467 crore during the latest quarter, from Rs 281 crore a year ago, while staff costs rose 72 per cent to Rs 482 crore.

A one-time exceptional gain of Rs 360 crore reported by the company in the third quarter of 2006-07 also contributed to the dip in net profits.

NTPC’s board decided to pay an interim dividend of Rs 2.7 per share for the financial year 2007-08, the company informed the BSE.

The company’s shares closed at Rs 201.70, down 4.70 per cent on the BSE.

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