NTPC profit dips due to new rate regime
Posted on 1st August 2014 |
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| NTPC, the largest thermal power producer in the country, registered a decline of 13 per cent in profit, owing to new tariff regulation. The unaudited profit after tax stood at Rs 2,201 crore for the first quarter of financial year 2014-15, compared to Rs 2,527 crore in the corresponding quarter of the previous year. The company’s stock fell by 3.01 per cent corresponding to announcement of its first quarter results. The company cited the decline in profit is due to the implementation of new rate guidelines as suggested by central electricity regulatory commission.In a statement issued on Thursday, NTPC said under the new regime, almost 53 per cent of energy sent out has negative contribution on the financial incentives. The new tariff guidelines expect the power producers to avoid any retrospective adjustment, including any change in the projected capital expenditure. NTPC gross power generation for the quarter grew to 63 billion units from 57 billion units of previous corresponding quarter, up by 10.7 per cent. NTPC currently has an installed capacity of 43,128 Mw. Its coal based power stations clocked plant load factor of 84.29 per cent, an increase of 5.2 per cent, compared to the previous corresponding quarter. The unaudited total income increased by 15.2 per cent to Rs 18,885 crore in the first quarter of current financial year, in comparison to the Rs 16,391 crore reported for the corresponding quarter in the previous year. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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