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NTPC Q4 profit fall by 25% on Dabhol project impairment cuts

LiveMint logoLiveMint 29-05-2017 PTI

New Delhi: State-run power giant NTPC Ltd’s standalone net profit declined by 25.54% to Rs2079.40 crore for the quarter ended 31 March 2017 on impairment of investment in the Ratnagiri power plant, known as Dabhol project.

NTPC’s impairment loss was of Rs783 crore in Ratnagiri Gas And Power Pvt Ltd, which is a joint venture of the company. Standalone net profit was at Rs2,792.69 crore in the quarter ended 31 March 31 2016, NTPC said in a BSE filing. According to the statement, standalone total revenue of the company was up at 20,886.85 crore during the period compared to Rs18,732.41 crore in the year-ago period.

Standalone net profit in 2016-17 was down at 9,385.26 crore from Rs10,769.60 crore in the previous fiscal. Standalone total revenue was at Rs79,342.30 crore, up from Rs72,009.16 crore. Its consolidated net profit for 2016-17 was Rs10,713.94 crore, compared to Rs10,780.73 crore a year ago.

Consolidated total revenue was at Rs83,047.64 crore in the last fiscal compared to Rs74,484 crore in the previous fiscal. The board of directors also recommended a final dividend of Rs2.61 per equity share for 2016-17, subject to approval of shareholders in the ensuing annual general meeting. The final dividend is in addition to the interim dividend of Rs2.61 per equity share for the financial year 2016-17 paid in February 2017. The company said that average tariff during 2016-17 was Rs3.30 per unit.

The gross power generation of the company was up at 250.31 billion units (BUs) in 2016-17, compared to 241.97 (BUs). Its gross electricity generation also rose to 63.77 BUs in the quarter which ended on 31March 2017, compared to 62.33 BUs in the year-ago period. Plant load factor (PLF) or capacity utilisation for coal-based power plants was 78.59% in 2016-17 compared to 78.61% in the previous fiscal.

Similarly, the PLF for coal-based plants was 81.21% in the quarter which ended 31 March 2017, compared to 81.30% in year-ago period. The company’s dependence on imported coal has reduced as it used 1.03 million metric tonnes (MMT) in 2016-17 compared to 9.48 MMT in previous year. Similarly, imported coal used by company came down to 0.08 MMT in the fourth quarter, from 1.13 MMT a year ago.

The company’s group installed generation capacity was 50,498 MW as of 31 March 2017, up from 46,653 MW one year ago.

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