NTPC Q4FY17: Profits down 26% but largely in line with street estimates

SMC | May 11, 2015, midnight


Government-owned power generation company NTPC Ltd. reported a 26 percent drop in profit in the fourth quarter, but was largely in line with street estimates.


NTPC, the public sector power major has registered 11% growth in standalone sales to Rs 20416.67 crore for the quarter ended March 2017 . After accounting for higher other income as well as higher interest and depreciation cost, the PBT before EO and regulatory income was down by 6% to Rs 3428.84 crore. The regulatory income was Rs 362.06 crore compared to a regulatory expense of Rs 3.94 crore in the corresponding previous period. Thus the PBT after Regulatory income but before EO was up by 4% to Rs 3790.90 crore. EO expense was Rs 782.95 for the quarter compared to nil in the corresponding previous period. Thus the PBT after RI & EO was down by 18% to Rs 3007 .95 crore. The taxation was a provision of Rs 928.55 crore (up 9%) and thus, the PAT was down by 26% to Rs 2079.40 crore before EO. EO is Rs. 541.26 crore. Profit after EO and after tax is Rs.2620.66 crore. The other comprehensive expense was higher at Rs 84.08 crore compared to just Rs 6.30 crore in the corresponding previous period. Thus the total comprehensive income was down by 28% to Rs 1995.32 crore.


  • Sale was up by 11% to Rs 20416.67 crore. The aggregate of prior period sales, IT payable to beneficiaries and deferred tax to be recovered from beneficiary was Rs 532.85 crore compared to -148.08 crore in the corresponding previous period. Prior period sales were Rs 523.75 crore compared to write back of Rs 156.6 crore in the corresponding previous period. The IT payable was nil for the quarter as well as corresponding previous period.
  • The deferred tax to be recovered from beneficiary was up by 7% to Rs 9.1 crore.
  • Other income was up by 15% to Rs 470.18 crore. The interest cost was up by 3% to Rs 897 .92 crore and the depreciation was up by 21% to Rs 1606.17 crore. Thus the PBT before EO and regulatory income was down by 6% to Rs 3428.84 crore.
  • The regulatory income was Rs 362.06 crore compared to a regulatory expense of Rs 3.94 crore in the corresponding previous period. Thus the PBT before EO after RI was up by 4% to Rs 3790.90 crore. EO was Rs 782.95 crore compared to nil in corresponding previous period. The EO is towards impairment of investment in Ratnagiri Gas. Thus the PBT after EO & Regulatory income was down by 18% to Rs 3007 .95 crore.
  • The taxation was up by 9% to Rs 928.55 crore and thus the PAT was down by 26% to Rs2079.40 crore.

 

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