NTPC's Profits Surge Despite Sluggish Revenue: CMD Gurdeep Singh Reappointed
NTPC Ltd, India's leading power producer, reported an 11% rise in net profit for the June quarter, while revenues declined slightly. The company reduced fuel costs significantly and continues international energy trading with Nepal and Bangladesh. Gurdeep Singh has been reappointed as Chairman and Managing Director.
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On Tuesday, state-owned power giant NTPC Ltd announced an 11% increase in its consolidated net profit for the June quarter, rising to Rs 6,108.46 crore. This comes as a contrast to the drop in operating revenues, which fell to Rs 47,065.36 crore from last year's Rs 48,528.88 crore.
Despite the decrease in revenue, NTPC's other income grew substantially, reaching Rs 755.75 crore compared to Rs 452.80 crore the previous year. The company's board has also approved the reappointment of Gurdeep Singh as Chairman and Managing Director.
Fuel cost, a major component in power generation, was cut down significantly from Rs 27,844.82 crore to Rs 24,973.04 crore. The company continues to expand its reach internationally with energy trading, including exports to Nepal and Bangladesh, adding to its financial strength.
(With inputs from agencies.)
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