NTPC records first fall in profit

For the first time in its history, NTPC has recorded about seven per cent drop in its profit after tax for 2001-02 to Rs 3,539.62 crore as against Rs 3,733.80 crore during 2000-01. The turnover of NTPC has also registered a fall at Rs 18,584 crore during 2001-02 from Rs 20,344.16 crore during the previous year.

The unaudited results announced by the company in April this year had put the net profit for 2001-02 at Rs 3,917 crore on a turnover of Rs 20,415 crore. Addressing a news conference in the capital on Friday, NTPC CMD C.P. Jain dave the details of its maiden public offering in the domestic market. The size of its IPO will be Rs 400 crore but as the shares will be sold at a premium, NTPC expects to raise over Rs 1,500 crore from the domestic markets.