NTPC Q1 result: Net profit surges 9.4% YoY to Rs 4,066 crore
The company's total revenue from operations for the June quarter was Rs 39,122 crore, a decrease of 2.3 per cent compared to the Rs 40,026 crore
- Jul 29, 2023,
- Updated Aug 1, 2023 4:43 PM IST
The National Thermal Power Corporation (NTPC), India's state-run power generator, has reported a consolidated net profit of Rs 4,066 crore for the first quarter of the financial year 2023-24. This figure represents a 9.4 per cent increase compared to the Rs 3,717 crore recorded in the same period last year.
The company's total revenue from operations for the June quarter was Rs 39,122 crore, a decrease of 2.3 per cent compared to the Rs 40,026 crore reported in the corresponding quarter of the previous fiscal year.
The company attributed these figures to the merger of two wholly-owned subsidiaries in the previous year, which necessitated restating the comparative figures for the quarter that ended on 30 June 2022.
Despite the slight dip in revenue, NTPC shares have been on a strong uptrend, driven by news of capacity additions. Earlier this month, the company announced the successful completion of trial operations at the second unit of its 3,300 MW Barh Super Thermal Power Project in Bihar. This development has increased NTPC's standalone and group commercial capacity to 57,038 MW and 73,024 MW, respectively.
"The comparative figures for the quarter ended 30 June 2022 are restated on account of merger of two wholly-owned subsidiaries in the previous year for which accounting has been done," NTPC stated in the regulatory filing.
In the first quarter of FY24, the NTPC group recorded gross power generation of 88.55 billion units, slightly lower than the 90.50 billion units generated in the same period a year ago. On June 9, amid soaring temperatures, India witnessed a record-high power demand of 223.23 gigawatts.
The company's shares closed at Rs 210 each on the BSE on July 28, up almost 4 per cent ahead of the result announcement.
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The National Thermal Power Corporation (NTPC), India's state-run power generator, has reported a consolidated net profit of Rs 4,066 crore for the first quarter of the financial year 2023-24. This figure represents a 9.4 per cent increase compared to the Rs 3,717 crore recorded in the same period last year.
The company's total revenue from operations for the June quarter was Rs 39,122 crore, a decrease of 2.3 per cent compared to the Rs 40,026 crore reported in the corresponding quarter of the previous fiscal year.
The company attributed these figures to the merger of two wholly-owned subsidiaries in the previous year, which necessitated restating the comparative figures for the quarter that ended on 30 June 2022.
Despite the slight dip in revenue, NTPC shares have been on a strong uptrend, driven by news of capacity additions. Earlier this month, the company announced the successful completion of trial operations at the second unit of its 3,300 MW Barh Super Thermal Power Project in Bihar. This development has increased NTPC's standalone and group commercial capacity to 57,038 MW and 73,024 MW, respectively.
"The comparative figures for the quarter ended 30 June 2022 are restated on account of merger of two wholly-owned subsidiaries in the previous year for which accounting has been done," NTPC stated in the regulatory filing.
In the first quarter of FY24, the NTPC group recorded gross power generation of 88.55 billion units, slightly lower than the 90.50 billion units generated in the same period a year ago. On June 9, amid soaring temperatures, India witnessed a record-high power demand of 223.23 gigawatts.
The company's shares closed at Rs 210 each on the BSE on July 28, up almost 4 per cent ahead of the result announcement.
Also Read: 'You find a girl': Sonia Gandhi responds after woman farmer asks Rahul Gandhi to get married