State-run power distribution company NTPC on Saturday reported a 70.48 per cent decline in net profit to Rs 1,523.77 crore for the quarter ended March 31. In a regulatory filing, Delhi-based NTPC said its total income came in at Rs 31,315.3 crore in the final quarter of financial year 2019-20, down 15.49 per cent compared to the corresponding period a year ago. The company said it has taken proactive steps to ensure the availability of its plants to generate power, and continued to supply power during the coronavirus-triggered lockdown.
The company said its total expenses stood at Rs 26,685.02 crore in the January-March period, up 25.56 per cent over the year-ago period. That included fuel expenses of Rs 15,804.09 crore, which were up 25.41 per cent on a year-on-year basis.
NTPC’s provisions towards current tax liabilities for the year ended March 31 included Rs 2,743.64 crore in tax related to earlier years.
For the full financial year, NTPC reported a drop of 15.19 per cent in net profit to Rs 11,901.96 crore, despite a 9.60 per cent rise in total income to Rs 1,12,372.58 crore.
The company believes the impact of the coronavirus pandemic is likely to be short-term in nature and does not anticipate any medium- to long-term risks in its ability to continue as a going concern.
NTPC’s board recommended a final dividend of Rs 2.65 per equity share for the financial year 2019-20.
On Friday, NTPC shares had ended 0.88 per cent higher at Rs 97.05 apiece on the BSE, in line with a 0.94 per cent rise in the benchmark Sensex index.