State-owned NTPC’s consolidated net profit jumped 38% to Rs 4,726.40 crore in Q2FY24 from Rs 3,417.67 crore in the corresponding quarter of last financial year.
The firm’s consolidated revenue from operations rose to Rs 44,983.35 crore in Q2FY24 from Rs 44,175.03 crore in the year ago quarter.
Total income generated rose to Rs 45,384.64 crore in the quarter ended September 2023, as against Rs 44,681.50 crore in the same period last year.
Further, the earnings before interest, taxes, depreciation and amortisation (Ebitda) in Q2FY24 came in at Rs 10,537.4 crore, compared to Rs 9,134.7 crore in the same period last year.
Adjusted PAT (profit after tax) in the current quarter was at Rs 3,497 crore against Rs 3,794 crore in the previous quarter.
The company has decided to pay a dividend at the rate of 22.5% or Rs 2.25 per share at the face value of paid-up equity shares of Rs 10 each for the financial year 2023-24. The date of payment of dividend will be November 23, the company said.
In Q2FY24, the power producer, which is on diverisification drive, made under-recoveries of Rs 381 crore. Operating margins of the company stood at 18.34% in Q2FY24 against 17.40% in corresponding quarter last financial year.
The company’s debt equity ratio is very comfortable as of now, the company said. “We will keep investing on thermal capacity as it benefits us to put 30% equity which fetches us 15.5% results.”
NTPC added 1,570 MW to its commercial capacity in its portfolio in H1FY24 out of which 110 MW was added from the renewable energy sources, the company said. Thus, as of September 30, the commercial capacity of the company, on a standalone basis, stands at 57,838 MW and that on a consolidated basis at 73,824 MW.
In the first half of the financial year 2023-24, the company generated 212 billion units (BU) of power, up from 204 BU in the first half of last fiscal. During the quarter, the company generated 90.302 BU of power, 5.63% higher than 85.487 BU in the same period a year ago.
The company’s coal supply stood at 113 MMT (million metric tonne) out of which 4 MMT was imported coal. Its plant load factor (PLF) also improved to 75.83% in the quarter ended September from 74.08% a year ago.
The company plans to add 15 GW of renewable energy capacity by the end of FY26 and carries a long term target of adding 60 GW of RE capacity by FY72, it said.
The company said that it has also signed a Memorandum of Understanding with ONGC Ltd and Oil India Ltd to explore opportunities in the renewable energy and green hydrogen sector among others.
The company also plans to add 11.2 GW of thermal capacity by the next fiscal, it said. “10 GW of thermal capacity is already under construction.”
During the first half of the current financial year, the company has declared a 10 MW solar PV plant at Gandhar, one thermal unit of 660 MW at Barh, and one thermal unit of 800 MW at Telangana as commercial.
The Company had incorporated a wholly owned subsidiary, in the name of ‘NTPC Mining Limited’ (NML) on August 29, 2029, for taking up coal mining business. “The Board of Directors of the Company has approved the hiving-off its coal mining business, consisting of 6 coal mines of the Company to NML at book value, through a business transfer agreement (BTA) dated 17 August 2023,” the company said.