New Delhi, May 31 (IANS) State-run generator NTPC on Monday posted a 7.73 per cent drop in its standalone net profit for the fourth quarter ended March at Rs 2,716.41 crore owing to low demand from state distribution companies (discoms).
NTPC had posted a net profit of Rs 2,944.03 crore in the corresponding quarter of last year, the company said in a stock exchange filing.
"The standalone net profit saw a dip this quarter due to lower demand from discoms," a senior company official told reporters here.
Many discoms' purchasing capacity are under stress from huge accumulated debts.
Thus affected, the company's standalone net sales of electricity fell to Rs 17,990 crore during the quarter in question, as against sales of Rs 19,229.94 crore in the same period year ago.
Total standalone income in the fourth quarter fell to Rs 18,560.70 crore, from Rs 19,879.38 crore in the same quarter of 2014-15. The company supplied 57.95 billion units of electricity during the period as compared to 57.38 billion units in the corresponding quarter of the previous fiscal.
For the full fiscal 2015-26, the company reported a standalone net profit of Rs 10,242.91 crore as compared to Rs 10,290.86 crore in 2014-15.
Total income too slid during the year from Rs 75,337.36 crore in 2014-15, to Rs 71,696.07 crore in 2015-16. However, the group's consolidated net profit rose to Rs 10,182.81 crore during 2015-16 from Rs 9,986.34 crore in the previous fiscal.
NTPC Board of Directors recommended a final dividend of Rs 1.75 per equity share for the financial year. The final dividend is in addition to the interim dividend of Rs 1.60 per equity share for 2015-16 paid in February 2016, the filing said.
