The state-owned power company NTPC Ltd recorded a consolidated profit of Rs 3,417.67 crore for Q2FY23 on October 29, down 7.4 percent from Rs 3,690.95 crore in the same period last year. On a sequential basis, the consolidated profit was 14% lower than the previous quarter’s figure of Rs 3,977.77 crore.
NTPC’s consolidated revenue from operations increased 36.3 percent to Rs 44,175.03 crore in Q2FY22, from Rs 32,403.58 crore. Consolidated revenue increased sequentially by 2.3 percent from Rs 43,177 crore in the preceding quarter.
Profit after tax for the quarter increased by 6% year on year to Rs 3,331 crore, up from Rs 3,157 crore at the same time last year. However, the earnings fell 10% year on year to Rs 3,717 crore.
The standalone revenue increased by 39% year on year to Rs 41,015 crore from Rs 29,471 crore in the previous period. Revenues were basically flat in comparison to the previous quarter, with a 2.5 percent increase.
The consolidated performance for the quarter was influenced by a 6.2 percent increase in fuel expenditures, which came in at 62 percent of revenue as a percentage of revenue, up from 55 percent the previous year. However, the gasoline expense as a proportion of revenues was 40 basis points lower sequentially.
NTPC was able to reduce its costs for electricity purchased for trading purposes by 140 basis points (bps) year on year and 50 basis points (bps) quarter on quarter, while personnel costs were reduced by 150 basis points year on year and 30 basis points from the previous quarter.
NTPC felt the impact of an increase in other expenses and finance costs from the previous quarter, which remained consistent on an annual basis. Other expenses climbed by 150 basis points over the quarter that ended June 2022, while finance costs increased by 120 basis points.
During the trailing twelve months (TTM), the business added 3.5 GW of capacity, bringing the consolidated installed capacity to 70.2 GW at the end of the quarter, up from 66.7 GW at the end of the same quarter the previous year.
Gross electricity generation (including hydro and solar) was 85.49 billion units (BUs) during the quarter, up 10.4 percent year on year but down 5.5 percent from the previous quarter. Commercial generation was up 11.3 percent year on year at 85.48 BUs, but down 4.9 percent from the preceding quarter.
The corporation sent out 80,209 BUs of energy during the quarter, which was up 12.2 percent year on year but down 4.3 percent from the previous quarter’s total of 84,561 BUs.
Coal production from the company’s captive mines increased 54.8 percent year on year to 4.32 million metric tons (MMT), up from 2.79 MMT the previous year. On a sequential basis, coal production was 5.4 percent higher.
The company’s average tariff for the first six months ending September 2022 was Rs 4.77 per unit, which was 23.6 percent more than the tariff of Rs 3.86 during the same period of the previous fiscal year.
On Friday, NTPC shares closed at Rs 174.15 per share, up 2.08 percent on the BSE, while the benchmark Sensex rose 203.01 points, or 0.34 percent, to end at 59,959.85. The stock has returned 26.7 percent in the last year and 10.2 percent in the last month.
NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian central public sector undertaking owned by the Ministry of Power, Government of India, that generates electricity and performs related activities. The university’s headquarters are in New Delhi.
The primary function of NTPC is to generate and distribute electricity to India’s State Electricity Boards. The organization also performs consultancy and turnkey project contracts involving engineering, project management, construction management, and power plant operation and management.
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