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Our Bureau

New Delhi, July 29 Hit by higher expenses and a big spurt in interest costs, power major NTPC Ltd on Tuesday announced a 27 per cent dip in net profit at Rs 1,726.53 crore for the first quarter ended June 30, 2008, from Rs 2,369.90 crore during the first quarter of 2007-08.

The State-owned utility — the country’s largest power generator — reported a 13 per cent jump in expenses at Rs 7,117.69 crore, against Rs 6,275.20 crore during the corresponding period last fiscal, mainly on account of rising fuel costs. Interest costs surged to 421.91 crore (Rs 27.80 crore).

The company’s total income rose 6 per cent to Rs 10,256.70 crore in the first quarter of the current fiscal, up from Rs 9,687.84 crore.

Net sales rose 6.35 per cent to Rs 9,539.47 crore(Rs 8,969.70 crore).

Shares of NTPC closed at Rs 178.45, down 3.44 per cent on the Bombay Stock Exchange.

More Stories on : Power | NTPC Ltd

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