NTPC Q4 Results: Net profit drops 2% to ₹5,556 crore, revenue up 3% YoY; dividend declared

NTPC Q4 Results: NTPC announced its January-March quarter results for fiscal 2023-23 (Q4FY24) on Friday, reporting a drop of two per cent in standalone net profit at ₹5,556.4 crore, compared to ₹5,672.3 crore in the corresponding period last year. India's largest integrated power utility's revenue from operations in the fourth quarter of FY24 stood at ₹42,532 crore, registering a growth of three per cent compared to ₹41,317 crore in the year-ago period.

The PSU's board recommended a final dividend of ₹3.25 per equity share for FY24. This is in addition to the first interim dividend at ₹2.25 per share and the second interim dividend at ₹2.25 per share with a face value of ₹10 each for 2023-24, paid in November 2023 and February 2024, respectively.

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NTPC Q4 Results - Key Metrics

On a consolidated basis, NTPC's net profit rose 33 per cent to ₹6,490 crore, compared to ₹4,871.5 crore reported in the corresponding period last year. The consolidated revenue from operations in the March quarter stood at ₹47,622.06 crore, reporting a growth of 7.6 per cent from ₹44,253.17 crore in the year-ago period. The leading state-owned power generator contributes 25 per cent to the country’s power requirement.

The board, in its meeting, held earlier today, has accorded in-principle approval for the incorporation of a wholly-owned subsidiary company to undertake nuclear energy business, subject to the approval of the administrative ministry—the Ministry of Power, DIPAM, NITI Aayog and/or other statutory authorities as may be required.

The average tariff was ₹4.61 per unit during fiscal 2023-24 compared to ₹4.89 per unit a year ago. The gross electricity generation of NTPC increased to 93.387 billion units (BU) during the fourth quarter up from 89.66 BU in the year-ago period. During fiscal 2023-24, it rose to 361.70 BU from 344.27 BU.

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The coal output increased to 7.87 MMT in the quarter from 6.48 MMT a year ago. Its production also increased during the fiscal to 27.7 MMT from 20.23 MMT. Plant load factor or capacity utilisation of coal-based thermal power plants dipped to 79.77 per cent in the fourth quarter from 80.32 per cent a year ago. During the fiscal, it rose to 77.25 per cent from 75.90 per cent in 2022-23.

Domestic coal supply improved to 61.6 MMT in the January-March quarter over 54.85 MMT in the same period last fiscal. During the fiscal, it also rose to 231.64 MMT from 209.29 MMT in 2022-23. The gas consumption improved to 0.95 MMSCMD in the quarter from 0.41 MMSCMD. 

During the fiscal year, it increased to 2.74 MMSCMD from 1.13 MMSCMD in 2022-23. The imported coal supply stood at 3.70 MMT in the quarter, compared to 2.97 MMT a year ago. During the fiscal year, it was 9.57 MMT, compared to 14.56 MMT in 2022-23.

NTPC Group's installed power generation capacity stood at 75,958 MW as of March 31, 2024. Ahead of the announcement of Q4FY24 results, NTPC shares settled 0.68 per cent higher at ₹374.85 apiece on the BSE.