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The Government of India owned power generation company NTPC has recorded a massive 258% surge in standalone net profit for the March 2021 quarter as compared to the corresponding quarter in the previous fiscal. Net profit on a stand-alone basis stood at Rs.4,479 crore for the Q4 of the financial year 2020-21 as compared to Rs.1,252 crore in the year-ago quarter.
The net profit for the previous quarter (December 2020) was recorded at Rs.3,315 crore.
The NTPC on Saturday reported its consolidated net profit for March 2021 quarter at Rs.4,649 crore. The revenue generated from operations for the power company stood at Rs.26,566 crore, a drop of 2.5% from the March 2020 quarter when it earned Rs.27,246 crore.
During the financial year 2020-21, NTPC earned an overall revenue of Rs.99,206 crore, an increase from Rs.97,700 crore in the previous year. Net profit for the state-run firm increased by 36% year-over-year from Rs.10,112 in FY20 to Rs.13,769 crore in the financial year ending in March 2021.
In a piece of good news for NTPC’s shareholders, its Board of Directors has recommended a final dividend to be distributed among all equity shareholders at a rate of Rs.3.15 per share for fiscal 2020-21. This is in addition to an interim dividend of Rs.3 per share announced earlier this year.
The revenue NTPC generated from its core operations i.e., power generation was reported at Rs.26,418 crore for the March 2021 quarter. Earnings from other sources totalled Rs.1,446 crore. Power generation for Q4 stood at 77.63 billion units as compared to 68.27 billion units generated in Q4 of the previous financial year. The annual power generation for FY21 also increased to 270.91 billion units.
On Saturday, NTPC’s share price dropped by Rs.3.70 or