NTPC net up 11.8% in Q4

State-run NTPC on Friday reported 11.8 per cent year-on-year (y-o-y) growth in its consolidated net profit at ₹5,200 crore for the fourth quarter ended March 31, 2022. On a sequential basis, net profit grew by 12.4 per cent from ₹4,649.49 crore in Q3 FY22.

The country’s largest power generator’s consolidated total income rose 19 per cent y-o-yto ₹37,724.42 crore during the January-March period in FY22. On a quarter-on-quarter (Q-o-Q) basis, the income rose by 11.7 per cent from ₹33,783.62 crore in Q3 of last fiscal year.

The company’s fuel costs rose by 15 per cent y-o-y to ₹19,357.10 crore in Q4 FY22. Sequentially, fuel costs were up by 13.5 per cent. The average electricity tariffs for FY22 stood at ₹3.98 per unit against ₹3.77 a unit in FY21.

NTPC’s Board of Directors have recommended a final dividend of ₹3 per equity share for FY22. The company had paid an interim dividend of ₹4 per equity share in February 2022. This is the 29th consecutive year of dividend payment by Genco, the company said in a statement.

“NTPC reported operationally decent set of Q4 FY22 results. In terms of operational performance, generation and energy sold were higher with our estimates led by new capacity addition and better y-o-y PLFs (higher than national average) coupled with higher trading volumes. Coupled with the above, lower other expenses also lead to EBITDA beat. However, the finance costs were higher than our estimates,” ICICI Securities said in a report.

On the operational front, NTPC’s gross power generation during Q4 FY22 rose by 2.96 per cent y-o-y to 79.9 billion units (BU). It sold 73.9 billion units during the quarter, a 2.4 per cent y-o-y growth. The plant load factor (PLF), or capacity utilisation of the coal plants was down at 76.07 per cent against 77.12 per cent a year-ago.

As of Q4 FY22, the Gencos’ standalone commercial and installed capacity stood at 54,596.68 megawatt (MW) each. On the other hand, the commercial and installed capacity of the entire group stood at 68,301.68 MW and 68,961.68 MW, respectively.

It commissioned a capacity of 2,871 MW and 3,811 MW on a standalone and consolidated basis, respectively in Q4 FY22.

For the entire FY22, NTPC Group generated 361 BUs and recorded its highest ever annual generation in FY22 as compared to 314 Bus in FY21, an increase of around 15 per cent. Its standalone gross generation in FY22 was 299 Bus against 271 BUs in the corresponding previous year, registering an increase of about 10 per cent.

NTPC coal stations achieved a PLF of 70.74 per cent against the national average of 58.76 per cent during FY22. Its renewable energy portfolio including projects in the pipeline stands at 7.8 gigawatts (GW).

On a consolidated basis, total income of the group for FY22 stood at ₹1,34,994.31 crore against ₹1,15,546.83 crore, registering an increase of 16.83 per cent. The PAT stood at ₹16,960.29 crore against ₹14,969.40 crore a year-ago, registering an increase of 13.30 per cent.

NTOC also declared commissioning of the second part capacity of 35 MW out of 92 MW at the Kayamkulam Floating Solar PV Project at Kayamkulam, Kerala. The first part capacity of 22 MW has already been declared on commercial operation in March 2022.

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