India's NTPC posts Q4 profit rise on sturdy power demand

Torrent Power

24/05/2024 15:44

BENGALURU, May 24 (Reuters) - India's National Power
Thermal Corp (NTPC)  NTPC.NS  reported higher fourth-quarter
profit on Friday, fueled by strong domestic power demand. 
    Consolidated net profit for the country's top power producer
grew 27% to 61.69 billion rupees (about $743 million) in the
three months to March 31.
    A rise in earnings comes as India witnessed heightened
temperatures in the quarter, leading to a surge in electricity
demand as a need for cooling appliances grew.
    Meanwhile, the country's electricity generation rose at an
average of about 8% annually following the pandemic year of
2020/21 due to both searing heatwaves and an uptick in economic
activity.
    NTPC's gross power generation increased by over 4% to 93.39
billion units during the quarter.
     It added 3,704 megawatts (MW) of installed capacity in
fiscal year 2024, taking its total installed capacity to 75,958
MW. 
    However, thermal power - its biggest segment's plant load
factor, a percentage of energy utilised by the power plant
corresponding to installed capacity, fell to 89.4% from 93.5%
between January and March.
    Revenue from operations grew 7.6% to 476.22 billion rupees.
    It also approved the incorporation of a subsidiary company
for undertaking a nuclear power energy business. 
    Adani Power  ADAN.NS  reported a jump in fourth-quarter
profit on higher demand and capacity, while Torrent Power's
 TOPO.NS  profit fell on higher expenses. 

($1 = 83.0671 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru; Editing by Ravi Prakash
Kumar)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))