NTPC Q3 profit seen down 2.4% at Rs 2,534 cr: Poll

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26 Aug, 2025 12:21

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India's largest power generation company NTPC is set to declare its third quarter (October-December) earnings today. According to CNBC-TV18 poll, analysts expect the company will get benefited from incremental return on equity on 3 percent higher commercial capacity, higher plant availability factor (PAF) at coal stations on better availability of domestic/imported coal.

Fuel cost savings remain on-track in Q3 but the sales from its high margin spot market may slow due to cap on volume/realisation.

Earnings-Net sales may go up 6.2 percent at Rs 16,758 crore versus Rs 15,775 crore-EBITDA is seen up 6.2 percent at Rs 4,245 crore versus Rs 3,995 crore-EBITDA margin may be flat at 25.3 percent versus 25.3 percent-PAT may go down 2.4 percent at Rs 2,534 crore versus Rs 2,597 crore

What to watch out for: Analysts

-Expect Q3 plant availability of NTPC's coal-based thermal power station to improve Y-o-Y to around 93 percent as against 88 percent Y-o-Y and 87 percent in Q2

-9-month FY14 provisional coal PAF is 89.2 percent (April-October: 86.2 percent) as per management, implying sharp improvement in December quarter

-Availability of coal-based thermal power station in October and November 2013 was 89 percent and 97.5 percent, respectively

-Coal PLF improved seasonally in Q3 (82 percent versus 76 percent in Q2)

-Generation for the quarter is estimated at 59.5 billion units versus 60 billion units in Q3FY13

-Against a capacity addition of 4.3GW in FY13, the company has not commissioned any standalone capacity in April-October

-However, post commissioning of projects like Rihand, Barh Super Thermal Power Project, Muzaffarpur Thermal Power Station etc, total installed capacity of the group stands at 42,454 MW

-Provision of employee pension may bring down the profitability of the company