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NTPC on Monday reported 7.7 per cent decline in consolidated net profit at Rs 3,494.61 crore for September quarter mainly due to higher expenses.
Its net profit was Rs 3,788.11 crore in the second quarter of 2019-20, NTPC said in a BSE filing.
Total income rose to Rs 28,677.64 crore in the quarter from Rs 26,568.62 crore a year ago.
Gross power generation of NTPC Group in July-September 2020-21 was 67.67 billion units (BUs) as against 61.64 BUs in the same period last fiscal.
The average power tariff of the firm was Rs 3.86 per unit in the first half of this fiscal.
The company’s plant load factor (PLF) or capacity utilisation of coal-based projects was 64.27 per cent in the quarter under review as compared to 64.28 per cent a year ago.
Its domestic coal supply rose to 38.31 million tonne in the quarter from 36.13 million tonne in the year-ago period.
Coal imports by the company dipped to 0.15 million tonne from 0.62 million tonne a year ago.
The gas consumption increased to 5.66 MMSCMD (million metric standard cubic meter per day) from 3.05 MMSCMD.
Its gas-based projects’ PLF also rose to 26.24 per cent in the second quarter from 13.13 per cent a year ago.
NTPC Group’s total installed capacity increased to 62,910 MW as on September 30, 2020, from 57,106 MW by the year-ago same period.
NTPC board approves buyback
NTPC board on Monday approved the buy back of 19.78 crore equity shares for Rs 2,275.74 crore.
“The board of directors of the company in a meeting held on November 2, 2020 has inter-alia approved... buyback of the fully paid up equity shares of the company of face value of Rs 10 each,” NTPC said in a BSE filing.
The board approved the proposal to buy back 19,78,91,146 fully paid-up equity shares at a price of Rs 115 per unit for an aggregate consideration not exceeding Rs 2,275.75 crore, the filing said.
The company has fixed November 13, 2020 as the record date for the purpose of ascertaining the eligibility of shareholders for buyback of equity shares.
Last month, markets regulator Sebi had granted exemption to NTPC from certain buyback norms for the proposed merger of its wholly-owned subsidiaries with the parent company.
In October, NTPC had filed an application with Sebi to seek exemption from the strict enforcement of the buyback norms.
The application had been necessitated on account of a scheme of amalgamation providing for the merger of NTPC’s wholly-owned subsidiaries with itself.
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