News

Published: July 29, 2023
Updated: July 29, 2023

"NTPC Shines in Q1 FY24: Robust Net Profit Growth, Coal Production Surges 52% YoY"

NTPC, the state-owned power utility, has delivered an impressive performance in the first quarter of fiscal 2023-24 (Q1FY24). The company's consolidated net profit surged by 23% to reach ₹4,907 crore, showcasing its resilience amid challenging market conditions. Additionally, NTPC reported a substantial growth in coal production, contributing to its success in the quarter.

Strong Financial Performance:

NTPC's Q1FY24 results reveal a notable rise in net profit, reaching ₹4,907 crore, a significant increase compared to ₹3,977.7 crore in the corresponding period last year. Despite a marginal dip in revenue from operations, the company's total income remained robust at ₹43,390 crore.

Stellar Coal Production:

The PSU achieved a remarkable milestone in coal production, with a growth rate of 52.2% in the June quarter. The total coal produced from captive mines-commercial reached 6.24 million metric tonnes (MMT), showcasing NTPC's commitment to enhancing its energy resources.

Capacity and Generation:

NTPC's total installed capacity in the quarter came in at 57,038 megawatts (MW), reinforcing its position as a leading power generator in the country. Although the gross power generation witnessed a slight decline of 2.16% at 88.55 billion units (BU), the company's coal stations achieved an impressive plant load factor of 77.43%.

Notable Commercial Ventures:

During Q1FY24, NTPC achieved several commercial milestones. The company declared commercial operations for the 10 MW solar PV plant at Gandhar, the 100 MW Nokhra solar PV plant at Bikaner, and one thermal unit of 660 MW Maitree Super Thermal Power Plant at Bangladesh, showcasing its commitment to renewable energy projects.

NTPC's Q1 FY24 results depict a company marching confidently towards growth and sustainability. The significant rise in net profit reflects NTPC's ability to navigate challenges and capitalise on opportunities in the power sector. With commendable strides in coal production and a focus on renewable energy projects, NTPC continues to play a pivotal role in India's power generation landscape. As the company forges ahead with its strategic initiatives, it is well-poised to maintain its upward trajectory and contribute to the nation's energy security and economic progress.