REUTERS - State-controlled utility NTPC Ltd (NTPC.NS) reported a 25.5 percent fall in quarterly profit after taxes, hurt by higher expenses and a one-off charge on impairment loss on investment.
Net profit was 20.79 billion rupees ($322.31 million) in the quarter ended March 31, compared with 27.93 billion rupees a year earlier, the company said on Monday. bit.ly/2rMWCi8
The company said it incurred an impairment loss of 7.83 billion rupees in the fourth quarter.
Analysts on average had expected a quarterly profit of 25.11 billion rupees, according to Thomson Reuters data.
($1 = 64.5350 Indian rupees)
Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Subhranshu Sahu