NTPC reports all-time high net profit of Rs 13,770 crore in FY21

By: |
June 20, 2021 6:15 AM

The company’s board has recommended a final dividend on Rs 3.15 per equity share with face value of Rs 10 each for FY21.

NTPC also plans to have a 60,000-MW green power generation base by 2032 as against the current 1,400 MW, and the upcoming renewables capacity is not tied up with PPAs.NTPC also plans to have a 60,000-MW green power generation base by 2032 as against the current 1,400 MW, and the upcoming renewables capacity is not tied up with PPAs.

State-owned NTPC reported a 36.2% year-on-year (y-o-y) increase in its standalone net profit to Rs 13,769.5 crore in the fiscal ended March, which is the highest ever annual profit recorded by the company, mainly on lower tax expenses. It paid Rs 1,925.4 crore tax in FY21, about 79% lower than the same period last year. The company’s board has recommended a final dividend on Rs 3.15 per equity share with face value of Rs 10 each for FY21. The final dividend is in addition to the interim dividend of Rs 3/share for FY21 paid in February.

For the fourth quarter of FY21, NTPC’s net profit increased 257.6% to Rs 4.479.2 crore, as the company received tax refund of Rs 982.4 crore against the Rs 4,983.7 crore paid in taxes in the corresponding quarter in FY20. NTPC revenue increased 3.1% y-o-y to Rs 1,03,552.7 crore in the fiscal as the power company sold 251.7 billion units of electricity in the period, 4.8% higher than last fiscal.

“NTPC has realised more than 100% of the billed amount during the year, crossing rupees one lakh crore, which is the highest ever realisation,” the company said. Utilisation levels of NTPC’s coal-based power plants deteriorated with plant load factor (PLF) at its coal-based plants plummeting by 220 basis points y-o-y in the fiscal to 66%.

The national average PLF coal plants in FY21 was 54.6%. Power plants are contractually entitled to receive fixed costs for recovering capital expenses even though when buyers do not procure electricity from the units. However, the plants need to display a minimum plant availability factor (PAF) of 83% to claim the fixed costs. The average PAF of NTPC coal plants in the quarter increased by 1.8 percentage points y-o-y to 91.4%.
The average tariff at which NTPC sold power in FY21 was Rs 3.77/unit, recording an annual drop of 3.3%.

The company’s average tariff had increased 15.4% annually to Rs 3.90/unit in FY20. Currently, the total installed capacity of the power behemoth stands at 65,825 mega-watt (MW). 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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