Thursday, July 25, 2024

NTPC FY23 power generation rises 11%, profit up 5.62%

New Delhi: State-owned energy giant NTPC reported an 11% year-on-year (YoY) increase in power generation and a 5.62% rise in profit for fiscal year 2022-23, according to the company’s financial results released today.

NTPC Group achieved a record annual generation of 399 billion units in FY23, a significant jump from 361 billion units in the previous fiscal year, indicating an 11% growth. NTPC’s standalone gross generation reached 344 billion units, again an 11% increase, a company statement said.

The company’s coal stations stood out with an impressive plant load factor of 75.90% during FY23, surpassing the national average of 64.21%.

NTPC‘s financial performance showcased positive results as well. Total income on a standalone basis soared to 167,724 crore for FY23 from the previous year’s 124,750 crore. Net profit for the previous fiscal year stood at 17,197 crore, a 5.62% increase compared to 16,282 crore in FY22.

On a consolidated basis, NTPC Group recorded total income of 177,977 crore for FY23, reflecting a growth of 31.84% on year. The group’s profit after tax for FY23 stood at 17,121 crore, up from 16,960 crore in the previous year.

The board of directors of NTPC has recommended a final dividend of 30% of the paid-up share capital, equivalent to 3 per equity share with a face value of 10 each for FY23, subject to approval at the upcoming annual general meeting.

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