Country's largest power generator NTPC reported a 10 per cent decline in net profit at Rs 2,130.39 crore for the quarter ended December 31,2011 due to increase in coal prices. The company had posted a net profit of Rs 2,371 crore during the corresponding period last fiscal. Cost of fuel (coal) witnessed a sharp jump of about 29 per cent at Rs 10,793.29,as against Rs 8,338.64 crore,NTPC said in a filing to the BSE. However,net sales of the company rose 14 per cent to Rs 15,332 crore,against Rs 13,421 crore during the same period last fiscal. NTPC generated revenues to the tune of Rs 15,572.38 crore from its power generation business during the quarter as against Rs 13,475.04 crore in the same period last fiscal. NTPC floated a tender in November,2011 for importing 4 million tonnes of coal during the current financial year to feed its plants. The company's annual coal requirement is approximately around 164 million tonnes. It generates over 36,000 MW of electricity from its various power plants from all sources of energy. Meanwhile,the company is also looking at long term tie-ups for sourcing coal in the future. On the development of coal mines allotted to the company,NTPC has appointed Mine-Developer-cum-Operator (MDO) for its first coal mine at Pakri Barwadih with 15 MTPA (million tonnes per annum) capacity during 2010-11.
