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Business

NTPC second-quarter profit beats expectations on increased power generation

Fuel costs fall amid lower crude oil prices

An employee works on electric pylons at a power station on the outskirts of New Delhi.   © Reuters

MUMBAI (NewsRise) -- NTPC, India's largest electricity producer, reported a better-than-expected net income in the second quarter, helped by increased power generation and subdued fuel costs.

Consolidated net income fell to 24.39 billion rupees ($373 million) for the quarter ended in September from 24.97 billion rupees a year earlier, the company said in a statement to stock exchanges on Monday. Brokerage ICICI Securities had expected NTPC to report a profit of 23.38 billion rupees. Revenue rose about 2% to 199.61 billion rupees.

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