NTPC net profit jumps 33% amid increased power demand. Here are key highlights

The company’s board of directors recommended final dividend of Rs 3.25 per equity share for FY24.

State-run NTPC Ltd reported a 33 percent increase in its consolidated net profit for the fourth quarter of financial year 2023-24 amid higher power demand due to scorching high temperatures in the country.

The power utility major's revenue from operations also rose above seven percent in the March quarter. The company’s power generation and coal production also increased in the period.

Moneycontrol takes a look at the highlights from the company’s fourth quarter results:

-NTPC consolidated net profit rose to Rs 6,490.05 crore in the fourth quarter from Rs 4,871.5 crore in the year-ago period. Sequentially, net profit of the company rose by 24.5 percent from Rs 5,208.87 in the December quarter.

-Revenue from operations in the March quarter was Rs 47,622.06 crore, rising 7.6 percent from Rs 44,253.17 crore reported last year.

-The company’s board of directors recommended final dividend of Rs 3.25 per equity share for the financial year 2023-24, subject to the approval of the shareholders in the annual general meeting.

-The board of directors accorded the in-principle approval for incorporation of a wholly owned subsidiary company for undertaking nuclear energy business, subject to approval of its administrative Ministry i.e. Ministry of Power, DIPAM, Niti Aayog and/or other statutory authorities as may be required.

-For FY24, net profit of the group was Rs 21,332 crore as against Rs 17,121 crore in the previous year, registering a growth of 24.60 percent.

-During the quarter, the company recorded gross power generation of 93.387 billion units (BU), 4.15 percent higher than 89.668 BUs in the same period of the previous year.

-Coal produced from NTPC’s captive mines stood at 7.87 million tonnes in the quarter, marking a spike of 21.45 percent over 6.48 MT in FY23.

-The total installed capacity of the NTPC group stood at 75,958 MW in Q4FY24 against 72,254 MW in the same quarter of the previous fiscal year. On a standalone basis, NTPC reported a total installed capacity of 59,078 MW, compared to 56,368 MW in Q4FY23.

-NTPC group recorded the highest-ever annual generation of 422 BU in FY24 as compared to 399 BU in FY23, an increase of around 6 percent. NTPC’s standalone gross generation in FY24 was 362 BU as compared to 344 BU in the previous year, registering an increase of around 5 percent.

-Gas consumption of the company improved to 0.95 MMSCMD in the fourth quarter from 0.41 MMSCMD last year, growing 131.71 percent.