State-run power generator NTPC Ltd reported a consolidated net profit of Rs 4,726.4 crore for the second quarter of the financial year 2023-24, up 38.3 percent from Rs 3,417.67 crore in the year-ago period.
The board also approved paying the first 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 November 23.
The total revenue from operations in the September 2023 quarter was Rs 44,983.35 crore, up 1.8 percent from Rs 44,175.03 crore reported in the corresponding quarter of the previous fiscal year.
NTPC Ltd is India's largest integrated power utility, contributing 25 per cent of the country’s power requirement.
According to the average of analyst estimates calculated by Bloomberg, NTPC was projected to report a net profit of Rs 5,591.8 crore and a revenue of Rs 42,569.1 crore in the quarter under review.
The earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 13,081.5 crore, which is 18.7 percent higher compared to Rs 11,019.3 crore during the same period last year. The EBITDA margin rose by 416 basis points (bps) to 28.8 percent from 24.6 percent.
During the quarter, the company recorded gross power generation of 90.302 billion units (BU), 5.63 percent higher than 85.487 BUs in the same period a year ago.
The coal produced from its captive mines stood at 5.59 MMT (million metric tonnes) in the quartermarking a sharp spike of 29.4 percent compared to 4.32 MMT a year ago.
The total installed capacity of the NTPC group stood at 73,824 MW in Q2FY23-24 as against 70,254 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 57,639 MW in Q2FY22-23.
On September 1, 2023, India witnessed a record power demand of almost 240 GW, amid soaring temperatures.
Shares of NTPC closed at Rs 237.1 a piece on the NSE on October 27 ahead of the result, up almost 2.35 percent.
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