The power company had reported Rs 4,350.32 crore profit in the same quarter last year.
Profit fell even as the company reported a 28.38 per cent rise in net sales at Rs 27,246.88 crore for the quarter compared with Rs 21,222.39 crore in the same quarter last year.
Current tax for the March quarter stood at Rs 3,287.07 crore compared with Rs 897 crore in the year ago quarter, the PSU firm said.
The company board recommended a final dividend of Rs. 2.65 per equity share for FY20. This was in addition to the interim dividend of Rs 0.50 per equity share paid in March.
NTPC had on Friday in a Covid-19-related disclosure told exchanges that since it is in the business of generation and sale of electricity — an essential service — it ensured the availability of its power plants to generate power and has continued to supply power during the period of lockdown.
That said, it expected power demand to stay lower in the short-term period, which may result in the company operating its power plants at lower load factor.
As per the regulatory framework of business, it said, this would not have a significant impact on profitability, adding that the recently announced economic and comprehensive package is expected to improve the realisation of the company against the outstanding dues of DISCOMs due to liquidity infusion.
“The management does not anticipate any medium- to long-term risks in the company’s ability to continue as a going concern and meeting its liabilities as and when they fall due,” NTPC told exchanges.
Source: ET Markets