NTPC Ltd Reports 13 Percent Rise In PAT In H1 of FY24

NTPC Ltd Reports 13 Percent Rise In PAT In H1 of FY24

NTPC Limited in its latest financial results declared a 13 percent increase in its Profit After Tax (PAT) during the first half (H1) of FY24 on a standalone basis. The central Public Sector Utility (PSU) said that its PAT for H1 FY24 was Rs 7,951 crore as against Rs 7,048 crore in H1 FY23.

Meanwhile the firm reported a 30 percent jump in PAT on a consolidated basis. PAT of the group for H1 FY24 was Rs 9,634 crore as against the corresponding previous period PAT of Rs 7,396 crore, registering an increase of 30%.

India’s power generation behemoth said that it was able to increase its PAT share largely owing to the capacity additions and higher station availability. It also said that the company increased is total power generation in the current fiscal.

The company said that it generated 212 Billion Units (BU) in H1 FY24 as compared to 204 Billion Units in H1 FY23. NTPC’s standalone gross generation in H1 FY24 was 179 billion Units as compared to 176  Billion Units in the corresponding previous period. The firm now claims to have a total installed capacity of 74 GW.

The firm said that its coal stations achieved a Plant Load Factor (PLF) of 76.62% as against the National Average of 68.75 % during H1 FY24.

On standalone basis, the total income of NTPC for H1 FY24 reported a decline. It was Rs 81,199 crore for H1 FY24 as against the corresponding previous period total income of Rs 2,537 crore.

On consolidated basis, the total income of the group for H1 FY24 was Rs 88,775 crore as against the corresponding previous period total income of Rs 88,242 crore. The Board of Directors has approved First interim dividend for FY24 @ 22.5 % of paid-up share capital i.e. Rs 2.25 per equity share of face value of Rs 10 each.

NTPC, India’s leading thermal power producer in the country is now also diversifying its portfolio. With the formation of NTPC Green Energy Limited (NGEL), the firm is slowly increasing the installation of renewable energy too. The company already has some of the largest floating solar plants like at Ramagundam in Telangana. It also has plans to several other solar and wind projects. Recently NGEL also signed an MoU with ONGC to realise the development of renewable energy and offshore wind power.