India's NTPC posts Q2 profit decline on lower power generation

Torrent Power

24/10/2024 17:11

Oct 24 (Reuters) - Top Indian power producer NTPC
 NTPC.NS  reported a decline in its second-quarter adjusted
profit on Thursday, hurt by lower electricity generation in its
core thermal energy segment.
    The company's consolidated profit before tax and other items
fell 29.4% to 43.21 billion rupees (about $514 million) for the
three months to Sept. 30.
    India's electricity demand for the July-September period was
down as above-normal rainfall resulted in lower temperatures.
Consumption grew a mere 1.1% from a year ago, compared with 9.7%
for the first-half of the year. 
    This helped reduce the country's dependence on coal, which
India is still heavily reliant on to meet its energy
requirements.
    Generation from thermal power, which is derived from burning
fuels such as coal, declined 1.2% in the September quarter from
a year ago, while renewable energy generation rose 7%, Elara
Capital had said in a note.  
    NTPC's gross power generation fell 2% to 88.46 billion units
during the second quarter.
    Its thermal power segment's plant load factor, which is a
percentage of energy utilised by the power plant corresponding
to installed capacity, fell to 72.3% from 75.8% in the
July-September period.
    The company added 2,619 megawatts (MW) of installed capacity
in fiscal year 2025, taking its total installed capacity to
76,443 MW, with major focus on expanding its renewable energy
capacity. 
    NTPC's quarterly revenue from operations fell nearly 1% to
446.96 billion rupees.
    Peers Adani Power and Torrent Power are yet to report their
second-quarter results.


($1 = 84.0490 Indian rupees)

 (Reporting by Anuran Sadhu and Kashish Tandon in Bengaluru;
Editing by Shreya Biswas)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))