Q2FY24 Preview: NTPC: Revenue seen at Rs. 405,791 million, PAT at Rs. 40,504 million

27 Oct 2023 , 10:43 AM

Result date: October 28, 2023

Recommendation: Buy

Target price: Rs. 250

India’s largest integrated power utility company, NTPC, could post 3% year-on-year decline in revenue, as per estimates by IIFL Capital Services.

The company reported plant availability factor (PAF) during the September 2023 quarter over the year-ago quarter. This means that incentive income is likely to be similar. NTPC’s under-recoveries should come down, which in turn could aid operational performance. 

The company could post 21.6% growth in Profit After Tax (PAT) as compared to the year-ago quarter.

Important management insights to watch out for:

• Update on interim dividend
• Outlook on growth, margins

Rs. Million	September 2023 estimates	YoY change
Revenue	405,791	(3.0)%
EBITDA	105,453	2.0%
Profit After Tax	40,504	21.6%

Source: IIFL Research