NTPC's Q3 net profit drops by 7%, at Rs 2469 crore

NTPC on Wednesday stated that its net profit for third quarter ended result December 31, 2016 has declined by 7% on an year-on-year (YoY) basis. 

The company reported net profit of Rs 2468.72 crore, a drop of 7.49% compared to Rs 2668.77 crore in the corresponding period of the previous year. 

A Bloomberg poll estimated NTPC to report net profit of Rs 2390 crore this Q3. 

Total income from operations stood at Rs 19,395.42 crore, which was up by 10.92% YoY but remained flat compared to Rs 19,397.94 crore of preceding quarter.

NTPC said, "The board of directors have decided, interalia, to pay interim dividend at the rate of 26.10% on the face value of paid-up equity shares of Rs 10 each for the current fiscal year."

Share price of NTPC was trading flat at Rs 173.40 per piece on BSE. 

Recently, in an answer to Rajya Sabha, Power Minister Piyush Goyal had stated that NTPC has decided to shut down old polluting power plants of capacity totalling roughly 11 GW and replace those with new ones which are highly efficient.