NTPC Q2 net drops 21 per cent to Rs 2,492 crore

NTPC, the country's largest power producer, has posted nearly 21 per cent drop in its net profit at Rs 2,492 crore for the quarter ended September 30.

The company had reported a net profit of Rs 3,142 crore in the corresponding quarter of the previous financial year.

In a filing to the stock exchanges, the PSU said its total income decreased to Rs 17,059.4 crore during the period, against Rs 17,170.9 crore in same quarter of the last financial year (2012-13).

NTPC spent Rs 10,139.25 crore as fuel cost during the second quarter of the current financial year against Rs 9,932.66 crore in the same period of 2012-13.

It has plans to double its investment target for the current financial year at Rs 21,000 crore. The company had spent about Rs 11,000 crore in 2011-12.

Meanwhile, NTPC is likely to import about 14 million tonnes coal this financial year. This would be much higher than 12 million tonnes imported in 2011-12.

NTPC has an installed generation capacity of 41,684 MW.

Shares of the company closed at Rs 145.90 apiece, up 1.21 per cent on the Bombay Stock Exchange.