NTPC Q4 net profit up by 33% y-o-y to ₹6,490 Crore

27 May 2024 , 11:34 AM

NTPC Ltd announced a consolidated net profit of ₹6,490.05 Crore for the fourth quarter of 2023-24, a 33% increase from ₹4,871.5 Crore in the same period previous year. The company’s profit improves as electricity generation increases and power demand rises.

The company’s overall net profit increased 24.5% sequentially from ₹5,208.87 in the December quarter.

Revenue from operations in the March quarter was ₹47,622.06 Crore, up 7.6% from ₹44,253.17 Crore reported the previous year.

NTPC is India’s largest integrated power utility, accounting for 25% of the country’s power demand. The board of directors has recommended a final dividend of ₹3.25 per equity share for the fiscal year 2023-24, which must be approved by shareholders at the annual general meeting.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to ₹15,601.13 Crore from ₹12,435.22 Crore the previous year.

In their meeting on May 24, the board of directors gave in-principle approval for the formation of a wholly owned subsidiary company to conduct nuclear energy business, subject to the approval of its administrative Ministry, i.e., Ministry of Power, DIPAM, Niti Aayog, and/or other statutory authorities as required.

During the quarter, the company generated 93.387 billion units (BU), which was 4.15% higher than 89.668 BUs in the same time last year. Coal production from its captive mines totaled 7.87 million tonnes in the quarter, up 21.45% from 6.48 MT in FY23.

The NTPC group’s total installed capacity was 75,958 MW in Q4FY24, compared to 72,254 MW in the same quarter the previous fiscal year. On a standalone basis, NTPC reported a total installed capacity of 59,078 MW, up from 56,368 MW in Q4 FY23.

According to the company’s press release, the NTPC group logged the highest annual generation of 422 BU in FY24, up from 399 BU in FY23, representing a 6% increase. NTPC’s standalone gross generation in FY24 was 362 BU, up from 344 BU the previous year, representing a rise of around 5%.

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