State-owned NTPC Ltd announced on Monday, January 29, a 7.3% YoY increase in consolidated net profit, reaching ₹5,208.9 crore for the third quarter ending December 31, 2023. In the corresponding quarter of the previous year, NTPC had reported a net profit of ₹4,854.4 crore, according to a regulatory filing. Despite the rise in net profit, the company experienced a 4% decline in consolidated revenue from operations, dropping to ₹42,820.4 crore compared to ₹44,601.8 crore in the same period of the preceding fiscal year.
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At the operational level, consolidated EBITDA fell by 21.5% to ₹11,362.2 crore during the third quarter of the current fiscal year, down from ₹14,477.6 crore in the corresponding period of the previous fiscal. The consolidated EBITDA margin stood at 26.5%, down from 32.5% in the same period of the previous fiscal year. EBITDA represents earnings before interest, tax, depreciation, and amortization.
The board of directors has approved a second interim dividend of 22.5% (₹2.25 per share) on the face value of paid-up equity shares of ₹10 each for the financial year 2023-24. The dividend is scheduled to be paid or dispatched on February 22, 2024. The first interim dividend of ₹2.25 per share for the same financial year was declared in a meeting held on October 28, 2023, and was paid in November 2023, according to NTPC.
The company reported that revenue from operations for the quarter and nine months ending December 31, 2023, includes ₹2,117.12 crore and ₹7,012.90 crore, respectively, due to the sale of energy through trading. The average tariff for the company was ₹4.57 per unit during April-December of the current fiscal year, compared to ₹4.96 per unit a year ago. NTPC’s gross electricity generation increased to 89.467 billion units during the third quarter from 78.646 billion units in the same period a year ago.
The coal output rose to 8.09 million metric tonnes in the quarter from 5.35 million metric tonnes a year ago, and the production increased to 19.92 million metric tonnes during April-December of the current fiscal year from 13.75 million metric tonnes in the same period the previous year. The plant load factor of coal-based thermal power plants improved to 75.95% in the quarter from 68.85% a year ago. Domestic coal supply increased to 60.23 million metric tonnes in the October-December quarter, up from 52.45 million metric tonnes in the same period of the previous fiscal year.
Gas consumption improved to 2.26 million metric standard cubic meters per day (MMSCMD) from 1.13 MMSCMD. Imported coal supply stood at 2.15 million metric tonnes in the quarter, compared to 1.57 million metric tonnes a year ago. As of December 31, 2023, NTPC Group’s installed power generation capacity was reported to be 73,874 MW.
The market closed before the announcement of the results. NTPC Ltd shares ended at ₹324.65, up by ₹9.80 or 3.11% on the BSE.
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