The board of state-run power utility NTPC Ltd has passed an enabling resolution to raise up to Rs 12,000 crore through non-convertible debentures in one or more tranches over a period of one year, the company said on July 29.
While the company did not disclose more details about the fund raising, proceeds may be used for its capital expenditure.The company said at the beginning of the fiscal year that it aims to add 5 gigawatts (GW) of new capacity in 2022-23, and another 6 GW in 2023-24, a majority of which will be coal-based. NTPC, India’s largest power generator, has a consolidated installed capacity of 68,982 megawatts (MW).
The company reported consolidated total income of Rs 43,560.72 crore in the first quarter of 2022-23 (Q1 FY23 ), up 43.34 percent on year. The net profit Q1FY23 was Rs 3,977.77 crore, which was an increase of 15.51% from the same quarter a year ago.
On a consolidated basis, NTPC generated 104.42 billion units in Q1FY23, up 22% on year. Separately, the company also announced that Jaikumar Srinivasan, who has been appointed as director finance, has been designated as chief financial officer of the company in place of Renu Narang with immediate effect.
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