NTPC: In its Q4 for FY24, National Thermal Power Corporation (NTPC) Limited disclosed a notable 33% increase in its net profits compared to the same quarter of the previous year. This surge was attributed to a spike in power demand and an enhancement in electricity generation. The company’s consolidated net profit for the quarter ending March 2024 reached Rs 6,490.05 crore, contrasting with Rs 4,871.55 crore in Q4 FY23. Additionally, in comparison to the preceding quarter, Q3 FY24, NTPC’s net profit rose by 24.5%, reaching Rs 5,208.87 crore.
As the leading integrated power utility, accounting for a significant 25% share of the nation’s total electricity demand, NTPC observed a slight uptick of 7.6% in its revenue from operations. In Q4 FY24, the company reported revenue from operations amounting to Rs 47,622.06 cr, compared to Rs 44,253.17 cr in the corresponding quarter of the previous year.
Meanwhile, the EBITDA (earnings before interest, taxes, depreciation, and amortization) saw a notable increase, rising to Rs 15,601.13 crore from the previous year’s Rs 12,435.22 crore. Additionally, the company’s gross power generation during the quarter amounted to 93.387 billion units (BU), marking a 4.15% increase compared to the 89.668 BUs generated during the same period last year.
Also Read: Divi’s Laboratories Q4 Results
In their meeting on May 24, the board of directors of NTPC granted in-principle approval for establishing a wholly owned subsidiary dedicated to engaging in the nuclear energy sector, pending endorsement from its administrative Ministry, including the Ministry of Power, DIPAM, Niti Aayog, and other requisite statutory authorities. This strategic move reflects NTPC’s commitment to diversifying its energy portfolio and exploring new avenues for growth. Additionally, the board recommended a final dividend of Rs 3.25 per equity share for the fiscal year 2023-24, contingent upon approval from the shareholders during the upcoming annual general meeting. This proposed dividend underscores the company’s strong financial performance and commitment to rewarding its shareholders.
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
