NTPC net profit rises 33% to Rs 6,490 crore in Q4; declares final dividend

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

State-run power generator NTPC Ltd reported a consolidated net profit of Rs 6490.05 crore for the fourth quarter of 2023-24, up 33 percent from Rs 4871.5 crore in the year-ago period. The profit of the company improves amid higher electricity generation and spike in power demand.

Sequentially, consolidated net profit of the company rose by 24.5 percent from Rs 5208.87 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.

NTPC is India's largest integrated power utility, contributing 25 percent of the country’s power requirement.

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.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 15,601.13 crore, compared to Rs 12,435.22 crore posted a year earlier.

The board of directors, in their meeting held on May 24, 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.

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 its 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.

The company said in its press release that 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.

Shares of NTPC closed at Rs 374.50 apiece on the National Stock Exchange on May 24 ahead of the results, up 0.59 percent from previous day’s close.