Country's largest power generation company NTPC reported a 25.6 percent YoY rise in Q3FY20 profit at Rs 2,995.1 crore.
Revenue fell 2.6 percent year-on-year to Rs 23,496 crore in quarter ended December 2019.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 6 percent to Rs 6,977 crore and margin expanded by 240bps YoY to 29.7 percent in Q3FY20 YoY.
Here are key highlights from NTPC's conference call by Narnolia Financial Advisors:
Management Participants: Gurdeep Singh - CMD, AK Gautam - Director (Finance)
During Q3FY20, gross generation declined by 13 percent YoY and 0.7 percent QoQ to 61.21 billion units (BUs). In 9MFY20, it declined by 7 percent YoY to 191.35 BUs units. The generation loss in coal based plant is due to grid restriction and shortage of fuel supply.
Coal produced during the same period is 2.533 MMT (Million Metric Tons) as against 2.376 MMT in Q2FY20.
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Plant load factor (PLF) for coal during Q3FY20 is 63.48 percent as against 77.7 percent in Q3FY19 and 64.28 percent in Q2FY20.
In Q3FY20, plant availability factor (PAF) (DC) for coal is 88.33 percent as against 85.29 percent in Q3FY19 and 84.08 percent in Q2FY20. While PAF for Gas is 98.75 percent as against 94.94 percent in Q3FY19 and 93.27 percent in Q2FY19. PAF for Hydro is 109.05 percent as against 106.64 percent in Q3FY19 and 110.08 percent in Q2FY19.
Coal supply during the quarter declined by 1.86 percent YoY and grew by 22.47 percent QoQ to around 44 MMT.
In Q3FY20, gas consumption declined by around 57 percent YoY and 20 percent QoQ to 2.44 MMSCMD.
Average Tariff for 9MFY20 is Rs 3.81 kWh.
As on Q3FY20, the regulated equity of NTPC is Rs 56,570.8 crore.
NTPC has signed a term loan of Rs 5,000 crore with State Bank of India. Average cost of borrowing for 9MFY20 is 6.86 percent versus 6.92 percent in 9MFY19.
It has signed a syndicated facility agreement with consortium of three bank for JPY equivalent $750 million with 2 tranches of 11 years. term with SBI and Sumitomo Mitsubishi Singapore and Bank of India Tokyo.
In 9MFY20, it has incurred capex of Rs 15,236 crore versus Rs 17,951 crore in the corresponding period. The total group capex for 9MFY20 is Rs 22,085 crore.
The total capital outlay for the group is estimated at Rs 21,000 crore in FY21.
As on Q3FY20, the installed capacity for NTPC group is 58,156 megawatt (MW) which is a growth of 9.4 percent from the corresponding quarter.
It has signed MOUs with Siemens for generation of green hydrogen renewable energy for electric mobility.