NTPC Q2 2023-24 results: Net profit of Rs 4,726.4 crore, up 38.3%

In the second quarter of the 2023-24 financial year, the state-run power generator National Thermal Power Corporation (NTPC), which is India's largest integrated power utility, revealed a consolidated net profit of Rs 4,726.4 crore, marking a notable increase of 38.3 percent compared to the Rs 3,417.67 crore reported in the corresponding period of the previous year.

Furthermore, the company's board has given the green light for the distribution of the first interim dividend, set at Rs 2.25 per share on the face value of paid-up equity shares of Rs 10 each for the financial year 2023-24. Shareholders can anticipate receiving this dividend on November 23.

During the quarter ending in September 2023, NTPC Ltd recorded a total revenue from operations of Rs 44,983.35 crore, indicating a modest uptick of 1.8 percent from the Rs 44,175.03 crore reported in the same quarter of the prior fiscal year.

NTPC plays a pivotal role in India's power landscape, contributing a significant 25 percent to the nation's power requirements.

According to the consensus of analyst estimates compiled by Bloomberg, NTPC was projected to achieve a net profit of Rs 5,591.8 crore and generate revenue of Rs 42,569.1 crore in the aforementioned quarter.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 13,081.5 crore, reflecting an impressive 18.7 percent increase when compared to the Rs 11,019.3 crore reported during the equivalent period last year. The EBITDA margin also saw a notable rise of 416 basis points (bps), reaching 28.8 percent from the prior 24.6 percent.

During the quarter, NTPC reported a gross power generation of 90.302 billion units (BU), marking a 5.63 percent increase from the 85.487 BUs generated in the same period the previous year.

The company's coal production from its captive mines reached 5.59 million metric tonnes (MMT) during the quarter, indicating a substantial spike of 29.4 percent compared to the 4.32 MMT produced in the corresponding quarter of the previous year.

NTPC's total installed capacity, as part of the NTPC group, reached 73,824 MW in the second quarter of the financial year 2023-24, a significant increase from the 70,254 MW recorded in the same quarter of the previous fiscal year. On a standalone basis, NTPC reported a total installed capacity of 57,838 MW, up from 57,639 MW in the second quarter of the financial year 2022-23.

On September 1, 2023, India experienced a record power demand, reaching nearly 240 GW, driven by soaring temperatures.

The closing price of NTPC's shares on the NSE on October 27 was Rs 237.1 per share, reflecting a noteworthy increase of almost 2.35 percent leading up to the announcement of these results.

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