NTPC Reports Highest Ever Annual Generation, 32% Surge In Income In FY23

Highlights :

  • NTPC Group Announced Its Q4 and FY23 Financial Results Today.
NTPC Reports Highest Ever Annual Generation, 32% Surge In Income In FY23 NTPC Ltd Reports 13 Percent Rise In PAT In H1 of FY24

The National Thermal Power Corporation of India (NTPC) today announced its Q4 and FY23 Financial Results. The leading power generator of the country claimed that during FY23, it reported the highest-ever annual generation of 399 Billion Units (BU) compared to 361 BU in FY22, registering a growth of around 11 percent. 

The audited results of the power generator state that on a consolidated basis, the total income of the NTPC group for FY23 stood at Rs 1,77,977 crore against the previous year’s total income of Rs 1,34,994 crore, registering a growth of 31.84%. On a standalone basis, the group reported a 34.35% growth as its total income increased from Rs 1,24,750 crore (FY22) to Rs 1,67,724 in FY23. 

However, the consolidated net profit declined for the quarter compared to the corresponding quarter in FY2022. While it was Rs 5,199 crore in Q4 of FY22, it fell to Rs 4,871 crore in FY23, registering a decline of 6 percent on YoY basis. 

The group also reported a growth of 5.6% in Profit After Tax (PAT). It reported a PAT of Rs 17,121 crore in FY23 against the corresponding previous year’s PAT of ₹ 16,960 crore. The Board of Directors of NTPC also announced dividends based on the results. It claimed that this was the 30th consecutive year of the company paying dividends.

“The Board of Directors of NTPC Ltd. has recommended a final dividend @ 30% of paid-up share capital, i.e. ₹ 3/- per equity share of the face value of ₹ 10/- each for FY23, subject to the shareholders’ approval in the Annual General Meeting. The company had paid an Interim Dividend @ 42.50% of paid-up share capital i.e., ₹ 4.25 per equity share in February 2023. It is the company’s 30th consecutive year of dividend payment,” NTPC Limited said in its media release today. 

Per its disclosure filing, the group reported an increase in its standalone income in Q4 compared to Q3. While the group reported a total standalone income of Rs 35,435 crore in Q3, it reported Rs 43,038.92 crore in Q4, registering a positive growth. 

The key performance highlights of the group claim that by the end of March 31, 2023, the NTPC group had a total installed capacity of 72.254 GW. In contrast, on March 31, 2022, the group had a total capacity of 68.962 GW, witnessing an addition of 3.29 GW of new power in FY23. 

On the Plant Load Factor (PLF) issue, NTPC said that it also witnessed a surge in its PLF for solar energy in FY23 and Q4. While in Q3, the PLF for solar stood at 20.98%, it increased to 23.60% in Q4. On an annual basis, the PLF registered a growth as it saw an improvement from 19.16% in FY2022 to 22.06% in FY23.  The PLF for wind energy also improved between Q3 (14.75%) to Q4 (21.98%). 

NTPC also said that it added 1,252.32 MW of additional solar energy in FY23 with the commencement of its new solar projects, which included floating solar projects in Ramagundam, Kalakulam, Auraiya and several other ground-mounted projects. In addition, on April 7, 2022, NTPC also incorporated its wholly owned subsidiary NTPC Green Energy Limited (NGEL) for the reorganization of its renewable energy projects. 

NTPC is widely expected to perform strongly for the foreseeable future, on the back of an ambitious expansion into renewable energy capacity, where it has targeted 60 GW by 2032. Power demand and supply in India also remains finely balanced, which has ensured higher utilisation of it’s coal fleet. Financially, there is a reasonable probability that gas fired plants, that have had an abysmal load factor due to higher gas prices, could also be put to use soon, should power demand trend higher, and gas prices continue to stay low or trend lower as they have done in the recent past.

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