State-run power generator NTPC Ltd reported a consolidated net profit of Rs 5,208.87 crore for the third quarter of 2023-24, up 7.3 percent from Rs 4,854.36 crore in the year-ago period.
Revenue from operations in the December 2023 quarter was Rs 42,820.38 crore, down 3.9 percent from Rs 44,601.84 crore reported in the corresponding quarter of the previous fiscal year.
According to the average of analyst estimates calculated by Bloomberg, NTPC was projected to report a net profit of Rs 4,930 crore and a revenue of Rs 44,646.80 crore in the quarter under review.
The company's board also approved paying a second interim dividend of Rs 2.25 per share on the face value of paid-up equity shares of Rs 10 each for FY24. The dividend will be paid on February 22.
NTPC is India's largest integrated power utility, contributing 25 percent of the country’s power requirement.
ALSO READ: Exclusive: PM Modi likely to launch projects worth Rs 69,000 cr in Odisha next month, bulk in coal & power sectorEarnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 12,116.42 crore, which is 18 percent lower compared with Rs 14,864.96 crore during the same period a year earlier. The EBITDA margin declined by 5 percentage points to 28 percent from 33 percent.
During the quarter, the company recorded gross power generation of 89.467 billion units (BU), 13.76 percent higher than 78.646 BUs in the same period of the previous year.
Coal produced from its captive mines stood at 8.09 million tonnes in the quarter, marking a sharp spike of 51.2 percent over 5.35 MT in FY23.
The total installed capacity of the NTPC group stood at 73,874 MW in Q3FY24 against 70,884 MW in the same quarter of the previous fiscal year. On a standalone basis, NTPC reported a total installed capacity of 57,838 MW, up from 58,269 MW in Q3FY23.
On September 1, 2023, India witnessed a record power demand of almost 240 GW, amid soaring temperatures.
Shares of NTPC closed at Rs 324.55 a piece on the National Stock Exchange on January 29 ahead of the results, up almost 3.11 percent.
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