MUMBAI, AUGUST 14, 2020 (GPN): The country’s largest power generator- NTPC Ltd. with a group installed capacity of 62110 MW, declared the unaudited financial results for Q1 FY21 today.

The gross generation of NTPC in Q1 FY21 was 60.18 Billion units as against 68.49 Billion units during the corresponding previous quarter. NTPC Coal stations achieved PLF of 58.22% in Q1 FY21 as against the National Average PLF of 46.70%.

On standalone basis, in Q1 FY21, the total income was Rs.24,021 crore as against the total income of Rs.24518.81 crore during the corresponding previous quarter. Profit After Tax (PAT) for Q1 FY21 was Rs.2,470.16 crore (after allowing rebate to beneficiaries which have met the conditions approved by the Board, of Rs.802.57 crore on the capacity charges during the lock down period) as compared to Rs.2,602.79 crore in the corresponding previous quarter.

NTPC pointed out that Central Energy Regulation Commission (CERC) had directed that late payment surcharge will apply at a reduced rate of 12 per cent per annum instead of 18 per cent earlier on the payments becoming overdue between March 24 and June 30 to contain the impact of Covid-19 pandemic.

The company said it allowed a rebate of between 20-25 per cent on the capacity charges during the lockdown period subject to approval of board, in line with the directions from the Ministry of Power and Atmanirbhar Bharat Special Economic and Comprehensive package. An amount of Rs 1,363 crore has been approved to be allowed in FY21 under the same.

The company has accounted for a rebate of Rs 802.57 crore in respect of beneficiaries fulfilling the conditions of the board, and it has been disclosed as an exceptional item. The balance amount will be accounted in respect of rest of the beneficiaries in case they meet such conditions.

The company also deferred the capacity charges to DISCOMs for the lockdown period for the power not scheduled to be payable without interest after the lockdown period in three equal monthly installments.

The impact on profit for the quarter due to reduction in surcharge and deferment of capacity charges has been marginal with a fall of 5 % in standalone net profit at Rs 2,470.16 crore (YoY).The company had reported a net profit of Rs 2,602.79 crore in the same quarter a year ago. ENDS