NTPC Ltd's Q1FY20 standalone net profit flat on yoy basis to Rs2,602.8cr : In-line with Estimates

The company’s standalone revenue stood at Rs24,192.6cr, up 6.6% yoy and 14.0% qoq.

August 10, 2019 7:06 IST | India Infoline Research Team


Standalone Results Q1FY20: (Rs. in cr)

Q1FY20 YoY (%)
Revenue 24,192.6 6.6
EBITDA 6,452.4 8.4
EBITDA Margin (%) 26.7 44
Net Profit (reported) 2,602.80 0.6
***EBITDA margin change is bps
NTPC reported better than consensus estimated numbers for the quarter on Revenue and EBITDA fronts, but, in-line with estimate on PAT front. The company's revenue in for the quarter grew 6.6% yoy to Rs24,192.6cr; 7% above consensus expectation. EBITDA stood at Rs6,452.4cr, up 8.4% yoy; 8% above consensus estimates. EBIDTA margin expanded marginally by 44bps yoy to 26.7%. On account of adverse movement in regulatory deferral account balances, net profit for the quarter was flat on yoy basis to Rs2,602.8cr; in-line with estimate.
  • Company’s depreciation and interest costs were up by 10.3% yoy and 28.3% yoy for the quarter.
  • Other income jumped by 139.2% yoy to Rs326.2cr.
  • Net movement in Regulatory deferral account balances was down by 44.4% yoy to Rs510.6cr.
  • Revenue from generation was up by 7.0% yoy, however, the EBIT growth remained flat yoy.
  • Installed capacity for NTPC at the group level stood at 55,126MW at the end of Q1FY20, an addition of 1,475MW yoy. Commercial capacity at the group level stood at 54,326MW at the end of Q1FY20, an addition of 2,935MW yoy.
  • Installed capacity for NTPC at a standalone level stood at 47,325MW at the end of Q1FY20, an addition of 1,225MW. And, commercial capacity for NTPC at the standalone level stood at 46,525MW, an addition of 2,025MW yoy.
  • The net increase in the group-level installed capacity was due to the addition of:
  1. one 800MW unit at Gadarwara
  2. one 660MW unit at Solapur
  3. one 250MW unit at Bongaigaon
  4. two 110MW units at Barauni
  5. one 250MW unit at BRBCL-Nabinagar
  6. decommissioning of 705MW plant at Badarpur
  • Commercial generation in Q1FY20 declined by 1.3% yoy to 68.2bn units.
  • Average tariff for Q1FY20 stood at Rs3.47 per unit, up 4.6% qoq.
PLF (%) for the various power generation segments for the group stood at:
Q1FY20 Q1FY19 Yoy (bps)
PLF Thermal (All India) 62.8 62.3 48
Coal 73.9 78.0 -408
Gas 20.6 23.1 (250)
Solar 20.4 19.8 60
Hydro 57.4 38.9 1,849
Small Hydro 29.5 35.7 (615)
Wind 32.6 31.7 91

Technical View:

NTPC Ltd ended at Rs. 123.80, down by 0.9 points or 0.72% from its previous closing of Rs. 124.70 on the BSE.
The scrip opened at Rs. 125 and touched a high and low of Rs. 126.60 and Rs. 123 respectively. A total of 1,08,10,018 (NSE+BSE) shares were traded on the counter. The stock traded above its 100 DMA.

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