Q3 quarterly sales figures include `676.3 crores related to power tariff revisions, rewards regulatory orders, and other adjustments.
National Thermal Power Corporation Limited, a public sector undertaking, posted a 24.6% year-on-year increase in net profit at Rs 4,131.9 crore, mainly on strong power sales for the three months ended in December.
NTPC’s revenue rose 18.1% to Rs 29,837.1 crore as the power company sold 67.6 billion units of electricity during the period. The company’s board approved an interim dividend of Rs 4 per share on FY22
Expenditure, including fuel, increased by 12.5 percent to Rs 24,428.1 crore. Total coal consumption during the quarter increased by 16.4% y-o-y to 53.3 million tonnes (MT), while the company’s coal imports doubled to 0.5 MT during the same period. Coal production from newly commissioned captive mines increased by 55.6% to 4 MT.
NTPC Coal-Based Power Stations achieved a utilization standard (PLF) of 68.9% in the first nine months of the financial year, compared to the national average of 57% PLF. During the same period, the company sold electricity at an average price of Rs 3.91 per unit.
NTPC Coal Stations’ average plant availability factor (PAF) – which determines fixed cost recovery levels – fell 361 basis points to 85.5% during the quarter. Fixed cost represents pre-determined cost factors, including debt service liability and risk-free returns. Power plants are entitled under the contract to receive fixed costs even when buyers do not purchase power from the units.
However, plants must exhibit at least 85% PAF to claim fixed costs. Q3 quarterly sales figures include `676.3 crores related to power tariff revisions, rewards regulatory orders, and other adjustments.
At present, the total installed capacity of the power giant is 67,757.4 MW, of which 83% are coal-fired power plants. To increase the share of renewables, the company aims to achieve 60,000 MW of green capacity by 2032 from the current 1,300 MW.
As FE previously reported, it is also looking for strategic investors to offload a few shares of its wholly-owned NTPC Renewable Energy Limited (NREL) before publishing initial public offerings of some of its subsidiaries, including NREL.
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