NTPC profit jumps 11 per cent to Rs 3,315 crore

By: |
February 05, 2021 4:00 AM

It paid Rs 1,168.6 crore in taxes during the quarter, more than 42% lower than the same period last year. The company’s board has approved an interim dividend of Rs 3/share for FY21.

NTPCWith this, the total installed capacity of NTPC and NTPC group has become 52,385 MW and 65,810 MW, respectively, it added.

State-owned NTPC reported a 10.7% year-on-year (y-o-y) increase in its standalone net profit to Rs 3,315.3 crore in the three months ended December mainly on lower tax expenses.

It paid Rs 1,168.6 crore in taxes during the quarter, more than 42% lower than the same period last year. The company’s board has approved an interim dividend of Rs 3/share for FY21.

NTPC revenue increased 5.2% to Rs 25,268.6 crore in Q3 as the power company sold 60.7 billion units of electricity in the period, 7.8% higher than the corresponding period last fiscal. Overall coal consumption in the quarter increased marginally by 1.6% to 45.8 million tonne (MT), but the company’s coal imports fell by as much as 60% to 0.3 MT. Its newly-commissioned captive mines produced 2.6 MT of the fuel.

The average tariff at which NTPC sell power is Rs 3.87/unit. By the end of Q3, the company had bought back 19.79 crore equity shares at Rs 115 for an amount up to Rs 2,275.8 crore as part of capital restructuring announced in early November, NTPC said. NTPC coal stations achieved utilisation levels (PLF) of 62.3% in the first nine months of the fiscal, against the national average PLF of 51.5%.

NTPC coal stations’ average plant availability factor —which determines the fixed cost recovery levels — inched up 78 basis points y-o-y to 89.1% in the quarter. Fixed cost represents pre-determined expenditure components, including debt service obligation and risk-free returns. Power plants are contractually entitled to receive fixed costs even when buyers do not procure electricity from the units. However, the plants need to display a minimum PAF of 85% to claim the fixed costs.

Currently, the total installed capacity of the power behemoth stands at 62,925 mega-watt (MW), comprising around 1,110 MW of renewable energy-based plants. By 2032, it plans to have a total power production capacity of 1,30,000 MW and 30% of this would be non-thermal energy based. In another 12 years, NTPC wants to have a base of 32,000 MW renewables, 5,000 MW hydro and another 2,000 MW of nuclear power plants.

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