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NTPC posts 25.5 percent fall in fourth-quarter profit on one-off charge
May 29, 2017 / 9:05 AM / 6 months ago

NTPC posts 25.5 percent fall in fourth-quarter profit on one-off charge

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.

An employee works on electric pylons at a power station in Greater Noida on the outskirts of New Delhi June 8, 2012. REUTERS/Parivartan Sharma/Files

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

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