State-run power utility NTPC Ltd on October 29 reported a consolidated profit of Rs 3,417.67 crore for Q2FY23, down 7.4 percent from Rs 3,690.95 crore in same quarter of the previous year.
On a sequential basis, the consolidated profit came in lower by 14 percent compared to Rs 3,977.77 crore recorded in the June quarter.
NTPC's consolidated revenue from operations rose 36.3 percent to Rs 44,175.03 crore as against Rs 32,403.58 crore registered in Q2FY22. Sequentially, the consolidated revenue grew marginally by 2.3 percent from Rs 43,177 crore recorded during the previous quarter.
On a standalone basis, the profit after tax for the quarter improved 6 percent on year to Rs 3,331 crore from Rs 3,157 crore it achieved during the same period last year. On a sequential basis, however, the profit declined by 10 percent from Rs 3,717 crore.
The standalone revenues jumped 39 percent on year to Rs 41,015 crore from the revenue of Rs 29,471 crore recorded in the year ago period. Compared to the previous quarter, the revenues were largely flat with a marginal growth of 2.5 percent.
The consolidated performance for the quarter was impacted by a 6.2 percent rise in the fuel costs, which as a percentage of revenue came in at 62 percent as compared to 55 percent in the same quarter last year. Sequentially, however, the fuel cost as percentage of revenues was marginally lower by 40 bps.
NTPC was able to bring down its costs for electricity purchased for trading purposes by 140 bps on year and 50 bps on quarter while the employee costs were lower by 150 bps on year and 30 bps from the previous quarter.
NTPC felt the pinch of rise in other expenses and finance costs from the previous quarter, which on a yearly basis, remained stable. The other expenses increased 150 bps from the quarter ended June 2022 while finance cost was up 120 bps.
The company added 3.5 GW of capacity during the trailing twelve months (TTM) and the consolidated installed capacity at the end of the quarter stood at 70.2 GW as against the capacity of 66.7 GW at the end of the same quarter last year.
The gross power generation (including hydro and solar) for the quarter stood at 85.49 billion units (BUs), a growth of 10.4 percent on year but a decline of 5.5 percent from the previous quarter.
The commercial generation at 85.48 BUs was 11.3 percent higher YoY and was lower by 4.9 percent from the previous quarter.
The company sent out 80,209 BUs worth of energy during the quarter which was higher by 12.2 percent on year and 4.3 percent below the 84,561 BUs it sent out during the previous quarter.
The production of coal from the captive mines of the company surged 54.8 percent on year to 4.32 million metric tonnes (MMT) as compared to 2.79 MMT produced during the last year period. On a sequential basis, the coal production was marginally higher by 5.4 percent.
For the first six months ended September 2022, the average tariff for the company came in at Rs 4.77 per unit, which was 23.6 percent higher from the tariff of Rs 3.86 during the first six months of previous financial year.
On Friday, shares of NTPC settled at Rs 174.15 apiece on the BSE, up 2.08 percent, while the benchmark Sensex advanced 203.01 points or 0.34 percent to end at 59,959.85. The stock has generated returns of 26.7 percent over the past one year and has gained 10.2 percent over the past one month.
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