NTPC Q2 results: Profit may rise 10-15%, tepid sales growth likely

NTPC is expected to report double-digit growth in net profit for the September quarter on a low single-digit growth in sales. Ebitda is seen rising 13-15 per cent, aided by recent capacity addition, higher consultancy and project management fees and plant load factors (PLFs).  

Kotak Institutional Equities sees weak generation, with decline of 6 per cent YoY on account of unfavorable base, but a healthy growth in PAT that reflects the increase in regulated equity -- up 9 per cent YoY. Reported PAT in Q2FY24, which would include prior-period sales of Rs 620 crore, is seen at Rs 4,355 crore, up 12.1 per cent YoY.

Among power PSUs, NTPC will have weak generation and sales, but its net profit will grow 14.9 per cent YoY with increase in regulated equity, Sharekhan said. The brokerage sees net profit for the September quarter at Rs 4,465 crore. The brokerage sees sales rising 0.6 per cent YoY (down 7.4 per cent QoQ) at Rs 41,135 crore. Operating profit margin is seen at 25.8 per cent.

Elara Securities sees NTPC reporting 10.1 per cent YoY rise in net profit at Rs 4,276 crore. It sees net sales rising 5.5 per cent YoY to Rs 43,132 crore. Ebitda is seen climbing 15.2 per cent to Rs 12,143 crore.

MOFSL sees  NTPC to report robust 2QFY25 results, aided by the commissioning of new capacity, which will lead to a rise in regulated equity and strong PLFs due to robust power demand.

For NTPC, it expects standalone revenue to grow at 2 per cent and Ebitda at 13 per cent YoY in Q2FY25. Growth will  be supported by robust PLF performance, increase in standalone commercial capacity by 1.3 GW (since Q2FY24) and robust consultancy and project management fees, and an overall increase in power generation.

Meanwhile, MOFSL forecast adjusted PAT for NTPC to surge 41 per cent YoY. It sees profit at Rs 4,613 crore. Sales are seen at Rs 41,693 crore.