NTPC revenue increased 11.6% to Rs 26,802.3 crore in Q1 as the power company sold 66.6 billion units of electricity in the period, 19.3% higher than the corresponding period last fiscal.
State-owned NTPC reported a 27.3% year-on-year (y-o-y) increase in its standalone net profit to Rs 3,145.6 crore in the three months ended June mainly on higher revenue and lower tax expenses. The company’s board has approved the proposal to raise Rs 18,000 crore through bonds from the domestic market in the ongoing fiscal. NTPC revenue increased 11.6% to Rs 26,802.3 crore in Q1 as the power company sold 66.6 billion units of electricity in the period, 19.3% higher than the corresponding period last fiscal.
Overall coal consumption in the quarter increased by 14.6% to 46.3 million tonne (MT). It imported 0.5 MT coal in the quarter under review against 0.2 MT imports in the corresponding quarter last year. NTPC’s captive mines produced 2.5 MT of the fuel. The company paid Rs 1,180.5 crore in taxes during the quarter, 4% lower than the same period last year. NTPC coal stations achieved utilisation levels (PLF) of 69.7% in the first quarter of the fiscal, against the national average PLF of 58.6%.
The average tariff at which NTPC sold power was Rs 3.73/unit, lower than the Rs 3.98/unit realised in Q1FY21. NTPC coal stations’ average plant availability factor —which determines the fixed cost recovery levels — slipped 208 basis points y-o-y to 93.7% 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 64,515 mega-watt (MW). NTPC also plans to have 60,000 MW of green power generation base by 2032 from the current 1,400 MW. The company has recently received the approval of the Union ministry of new and renewable energy to set up a 4,750 MW renewable energy park at Rann of Kutch in Khavada, Gujarat.