NTPC's Second-Quarter Profit Fell on Higher Fuel, Finance Costs

By Ben Otto

NTPC Ltd.'s fiscal second-quarter net profit fell 7.3% on year as higher fuel and finance costs offset a steep rise in revenue.

The New Delhi-based power company posted net profit of 33.38 billion rupees ($405.6 million) in the quarter ended September, down from INR35.99 billion in the same period a year earlier, it said Saturday.

Revenue from operations rose 36% to INR441.75 billion from INR324.04 billion a year earlier.

Total expenses in the quarter rose to INR400.01 billion from INR289.50 billion, among which fuel costs rose 52% on year to INR272.23 billion. Finance costs rose 39% on year to INR30.68 billion.

The company also swung to net losses from joint ventures and incurred higher tax expenses in the quarter.

Write to Ben Otto at [e-mail]

(END) Dow Jones Newswires

10-30-22 2340ET