NTPC, the countrys largest power producer, on Tuesday posted a nearly 21% drop in its net profit at R2,492 crore for the quarter ended September.
The company had reported a net profit of R3,142 crore in the corresponding quarter of the previous financial year, NTPC said in a regulatory filing to the stock exchanges. Total income of the company decreased to R17,059.4 crore during the period, against R17,170.9 crore in same quarter of the last fiscal.
The company spent R10,139.25 crore as fuel cost during the second quarter of the current fiscal, against R9,932.66 crore in the same period last fiscal (2012-13).
NTPC has plans to double its investment target for the current financial year at R21,000 crore. The company had spent about R11,000 crore in 2011-12.
The government had earlier allocated 14 coal mines to central and state public sector units, including four to NTPC, in July. The company has an installed generation capacity
of 41,684 MW.
Meanwhile, NTPC is likely to import about 14 mt coal this fiscal. This would be much higher than 12 million tonne imported in 2011-12. Shares of the company closed at R145.90 apiece, up 1.21% on the BSE.