Share prices of NTPC gained as net profits of the company soared. The stock was up almost 3 per cent at Rs 116.70 on the NSE. The company reported a good set of quarterly numbers for the quarter ending March 31, 2021.
The government owned power giant NTPC posted nearly three-fold jump in consolidated net profit to Rs 4,649.49 crore for March quarter 2020-21 on the back of higher revenues. The consolidated net profit of the company in the year-ago period was Rs 1,629.86 crore, a BSE filing said.
Total income in the quarter under review rose to Rs 31,687.24 crore from Rs 31,330.25 crore in the same period of 2019-20. Net profit in last financial year was Rs 14,969.40 crore compared to Rs 11,191.98 crore in 2019-20.
Total income in 2020-21 was Rs 1,15,546.83 crore, up from Rs 1,12,372.58 crore in the previous year. The company's board has recommended a final dividend of Rs 3.15 per equity share for 2020-21. This is in addition to the interim dividend of Rs 3 per equity share paid in February 2021. The board has also approved enhancement of borrowing limit of the company from Rs 2,00,000 crore to Rs 2,25,000 crore. NTPC's gross power generation in March quarter was 77.63 billion units compared to 68.27 billion units (BU) in the same period a year ago.
With inputs from PTI