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NTPC net almost flat at Rs 2,385.41 crore, declares interim dividend, bonus shares

The company board in its meeting on Wednesday has decided to pay interim dividend and issue bonus shares to its shareholders, according to a company statement.

NTPC net almost flat at Rs 2,385.41 crore, declares interim dividend, bonus shares

New Delhi: State-run power giant NTPC posted a Rs 2,385.41-crore net profit in the December 2018 quarter, almost flat as compared to the year-ago period, mainly on account of higher fuel and borrowing costs.

The company board in its meeting on Wednesday has decided to pay interim dividend and issue bonus shares to its shareholders, according to a company statement.

The company's standalone net profit was Rs 2,360.81 crore in the corresponding period of the previous fiscal, the statement said.

Its total income during the third quarter was Rs 24,308.01 crore, a rise of 15.27 percent compared with Rs 21,087.84 crore a year ago.

During the nine months up to December 2018 also, the company's net profit was nearly flat at Rs 7,399.57 crore, compared with Rs 7,417.58 crore in the year-ago period.

During the April-December 2018, NTPC's total income was Rs 69,633.95 crore, an increase of 13.06 percent as against Rs 61,590.12 crore in the year-ago period.

The company has reported a net profit of Rs 10,343.17 crore for 2017-18 with total income of Rs 85,207.95 crore

The board in its meeting on Wednesday also approved the proposal to pay an interim dividend at a rate of 35.8 percent (Rs 3.58 per share) on the face value of paid-up equity shares of Rs 10 each for the financial year 2018-19. The dividend will be paid on February 14.

Besides, the board also recommended to issue bonus shares in the ratio of 1:5. That is one new equity bonus share of Rs 10 each for every five existing equity shares of Rs 10 each fully paid-up, subject to the shareholders' approval.

The company's gross power generation rose to 70.07 billion units (BUs) in third quarter from 67.78 BUs year ago. The plant load factor (PLF), or capacity utilisation of thermal power plants, was 77.70 percent in the quarter from 76.92 percent a year ago.

The firm's average power tariff during April-December 2018 was Rs 3.47 per unit.

The import of coal by the company has increased during the quarter to 0.19 million tonne, from 0.06 million tonne a year ago. In During the April-December period, the quantity of imported coal was 0.38 million tonne, compared with 0.22 million tonne in the year-ago period.