January 30, 2019 / 10:35 AM / 7 months ago

NTPC quarterly profit marginally up as higher costs weigh

A signboard of NTPC (National Thermal Power Corporation Limited) is seen outside its office in Mumbai, July 23, 2018. REUTERS/Francis Mascarenhas/Files

(Reuters) - Indian power producer NTPC Ltd posted a 1 percent rise in December-quarter profit on Wednesday, missing estimate, as higher expenses weighed.

Third-quarter profit after tax from continuing operations came in at 23.85 billion rupees ($335.16 million), marginally higher from 23.61 billion rupees a year earlier, the state-owned company said bit.ly/2HGdGzd.

Analysts on average expected the New Delhi-headquartered company to clock in a profit of 26.19 billion rupees, according to Thomson Reuters Refinitive data.

The company posted a 16.1 percent rise in revenue from operations in the third quarter.

Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips

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