NTPC profit rises 17 per cent to Rs 3,443 crore in April-June quarter
State-owned power giant NTPC on Saturday posted a nearly 17 per cent rise in consolidated net profit at Rs 3,443.72 crore for the April-June quarter on the back of higher revenues.
Profit of the company in the corresponding previous quarter of 2020 was Rs 2,948.94 crore.
Total income rose to Rs 30,390.60 crore from Rs 26,794.68 crore in the same period of the last year.
NTPC’s gross power generation in the June quarter was 71.74 billion units compared with 60.18 billion units (BU) in the same period a year ago. Domestic coal supply (for its plants) in the June quarter stood at 45.81 million tonnes, up from 40.19 million tonnes in the year-ago period.
IDFC First Bank suffers loss
Private lender IDFC First Bank on Saturday reported a net loss of Rs 630 crore in the April-June quarter because of higher provisioning to cushion the impact of the second wave of the Covid-19 pandemic. The bank had posted a net profit of Rs 93.55 crore a year ago and Rs 127.81 crore in the preceding three months.
“Covid provision pool increased from Rs 375 crore to Rs 725 crore during the current quarter,” IDFC First Bank said.
The bank expects to collect a reasonable proportion of these dues in due course, it added.