NTPC Q2 net profit up 40% at Rs 2,898 crore

THIS is a good news that will bring cheer to the state-run PSU as well as its tens of thousands of employees. Maharatna PSU NTPC on October 29 posted around 40-percent increase in net profit at Rs 2,898.28 crore for the second quarter ended on September 30. This increase has been attributed to higher power generation. “The company has posted a net profit of Rs 2898.28 crore for the quarter ended September 30, 2015 as compared to Rs 2071.63 crore for the quarter ended September 30, 2014,” NTPC Ltd said a BSE filing.
The total Income has increased...
to Rs 18,173.9 crore in the second quarter of 2015-16 fiscal, from Rs 17,267.32 crore the same period of 2014-15. NTPC further said that the revenue from power generation increased to Rs 17,950.28 crore, compared to Rs 16,805.73 crore in the year-ago period, the statement added.
The gross power generation for the quarter under review grew to 60.159 billion units from 55.448 billion units in the corresponding period of previous fiscal, up 8 per cent.
On half-year basis, the unaudited total income was Rs 35,497.20 crore during April-September this fiscal as against Rs 36,136.63 crore reported for the corresponding period.
The unaudited net profit was up 18 per cent at Rs 5,033.63 crore in April-September period this fiscal as compared to Rs 4,272.83 crore a year ago.
NTPC is the country’s largest power generator with installed capacity of 45,548 MW.
Currently headless, NTPC is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India.
Arup Roy Chowdhury, who served as the chairman of NTPC for the last five years, retired on August 31 after the NDA government denied him an extension. A K Jha, director, technical, at NTPC, has taken over additional charge of the post of chairman and managing director. In a bid to woo global talents, Union Power Ministry recently posted an ad in The Economist in its search for global talents to head NTPC. It was an attempt under Prime Minister Narendra Modi’s initiative to bolster their performance and spur economic growth. The basic annual pay for the post is mentioned as less than $24,000.
The posting on The Economist’s website by the power ministry is another indication of Modi’s desire to inject private-sector know-how into sprawling government.
A search committee constituted for the job, led by power secretary Pradeep Kumar Pujari, is currently entertaining applications only from candidates holding engineering degrees, a leading financial daily reported. This renders most IAS officers ineligible for the post.