NTPC sees 12% yoy rise in its Q1 net profit; to issue Rs 15,000 crore bonds

Key Highlights: 

• NTPC reports 12% yoy and 26% qoq rise in its net profit
• Total income stood at Rs 20,541.93 crore in Q1
• Bloomberg poll estimated NTPC's net profit to be at Rs 2,519 crore

State-owned NTPC surpassed analysts' estimates by registering nearly 12% year-on-year (YoY) rise in its net profit during financial result for June 30, 2017. 

The company posted net profit of Rs 2,618.17 crore, a rise of 11.95% compared to Rs 2,338.61 crore in the corresponding period of the previous year. 

Q1 net profit also increased by 25.91% from Rs 2,079.40 crore of the preceding quarter. 

A bloomberg poll estimated NTPC's net profit to be at Rs 2,519 crore during the period. 

Total income from operations stood at Rs 20,541.93 crore, which was up by 6.87% year-on-year (YoY) but down by 1.65% on quarter-on-quarter (QoQ) basis. 

In a meeting held on July 29, the board of directors of NTPC has considered and approved the issue of secured/ unsecured, redeemable, taxable/ tax-free, cumulative/ non-cumulative, non-convertible debentures aggregating up to Rs 15,000 crore.