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State-run NTPC on Saturday reported a 38 per cent Y-o-Y growth in its consolidated net profit at ₹4,726 crore during the July-September quarter this fiscal year aided by higher demand for power.
However, the country’s largest power generator’s profits slipped four per cent sequentially in Q2 FY24, the company said in its results filing with the BSE.
The CPSU’s consolidated total income was higher during the September quarter at ₹45,385 crore compared to ₹43,390 crore in Q1 FY24 and ₹44,682 crore in Q2 FY23.
The revenue from operations for Q2FY24 and H1 FY24 include ₹1007.72 crore and ₹2047.15 crore, respectively on account of sale of energy through trading.
The power behemoth said that its board of directors have approved the hiving-off of its coal mining business consisting of six coal mines to its subsidiary, NTPC Mining (NML) during Q2 FY24.
NTPC’s board of directors approved the first interim dividend for FY24 at the rate of 22.5 per cent of paid-up share capital, which comes to ₹2.25 per share of face value of ₹10 each.
The Genco reported a power tariff of ₹4.61 per unit for the six months ended September 30, 2023 against ₹4.53 per unit for the same period ending July 2023 and ₹4.77 for the same period ended September 20, 2022.
Operational metrics
During H1 FY24, 10 megawatt (MW) solar PV plant at Gandhar (Gujarat), one thermal unit of 660 MW at Barh (Bihar), one thermal unit of 800 MW at Telangana, a 100 MW Nokhra solar PV plant of NTPC Green Energy at Bikaner (Rajasthan) and one thermal unit of 660 MW Maitree Super Thermal Power Plant at Bangladesh of Bangladesh-India Friendship Power Company (BIFPCL) have been declared commercial, the company said in a statement.
The group’s cumulative installed capacity hit 73,824 MW in Q2 FY24 compared to 73,024 MW in Q1 FY24 and 70,254 MW in Q2 FY23. Its gross generation in Q2 FY24 stood at 90.30 billion units (BU) compared to 88.55 BU in Q1 FY24 and 85.49 BU in Q2 FY23.
Its coal stations achieved a Plant Load Factor (PLF) of 76.62 per cent as against the national average of 68.75 per cent during H1 FY24. During Q2 FY24, NTPC coal stations PLF stood at 75.83 per cent, against 77.43 per cent in Q1 FY24 and 74.08 per cent in Q2 FY23.
NTPC’s captive coal mines produced 5.59 million tonnes (MT) of coal in Q2 FY24 against 6.24 MT in Q1 FY24 and 4.32 MT in Q2 FY23. The Genco consumed 54.16 MT of domestic coal in Q2 FY24 against 55.57 MT in Q1 FY24 and 48.72 MT in Q2 FY23.
Imported coal consumption in Q2 FY24 was 1.25 MT against 2.48 MT in Q1 FY24 and 5.58 MT in Q2 FY23. The company also consumed 4.53 million standard cubic meters per day (MSCMD) of natural gas in Q2 FY24 against 2.47 MSCMD in Q1 FY24 and 0.66 MSCMD in Q2 FY23.
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