State-run power generator NTPC on Thursday reported a 3 percent fall in net profit for the first quarter ended June due to lower generation and plant efficiency as denoted by plant load factor (PLF).
The company posted a net profit of Rs.2,135 crore for the first quarter as compared to Rs.2,201 crore for the same quarter of the last fiscal, it said in a statement here.
Total income also decreased 8.2 percent to Rs.17,323 crore as compared to Rs.18,885 crore in the corresponding quarter of the last financial year.
Gross generation for the quarter at 58.69 billion units (BUs), declined 7 percent, compared to 63.15 BUs generated in the same period year ago.
The PLF for its thermal plants fell to 77.58 percent during the quarter in question from 84.29 percent in the corresponding quarter of 2014-15.
The low PLF, which is a measure of average capacity utilization, is ascribed to the slump in power demand from state utilities.
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Total expenses during the quarter in question also declined by 6.4 percent to Rs.14,884 crore from Rs.15,917 crore in the corresponding quarter last year, mainly owing to a 10 percent cut in fuel costs to Rs.11,509 crore.
The company's installed capacity rose by 1,920 MW to 45,048 MW at the end of the June quarter, from 43,128 MW at the end of June 2014.
The NTPC stock closed on Thursday at Rs.135.85 a share, up 0.60 points, or 0.44 percent, at the Bombay Stock Exchange.