National Thermal Power Corporation (NTPC) Limited reported a 33% increase in net profits

In the third quarter of FY24, NTPC's net profit increased by 24.5% over the previous quarter. In Q3 FY24, the business reported a net profit of Rs 5,208.87 crore.

Admin Admin May 25, 2024 235 0

National Thermal Power Corporation (NTPC) Limited reported a 33% increase in net profits

In Q4 of FY24, National Thermal Power Corporation (NTPC) Limited reported a 33% increase in net profits over the same quarter in the previous year due to a surge in power consumption and an improvement in energy output. Comparing Q4 FY23 to Q4 2024, the company's consolidated net profit was Rs 6,490.05 crore as opposed to Rs 4,871.55 crore.

 

There was a little rise of 7.6% in the integrated power utility's operating revenue. This utility contributes 25% of the total electricity need in the country. In Q4 FY24, the business recorded operating revenue of Rs 47,622.06 crore, up from Rs 44,253.17 crore in the same period of the previous year.

While this was going on, EBITDA—earnings before interest, taxes, depreciation, and amortisation—rose from Rs 12,435.22 crore to Rs 15,601.13 crore. 93.387 billion units (BU) of gross electricity were produced by the corporation during the quarter, 4.15 percent more than 89.668 BUs during the same time in the previous year.

In their meeting on May 24, the board of directors approved in principle the creation of a wholly owned subsidiary company to engage in the nuclear energy industry, subject to the approval of its administrative ministry, such as the Ministry of Power, DIPAM, Niti Aayog, and/or other statutory authorities as the situation may demand. Additionally, the board of directors proposed, subject to the approval of the shareholders at the annual general meeting, a final dividend of Rs 3.25 per equity share for the fiscal year 2023–2024.