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News: NTPC reported decent set of Q3FY24 results. From an operational point of view gross generation and energy sold grew by 10.8% and 11% YoY whereas the PLF of coal stations improved by 710 bps YoY to 76% in the quarter. The installed and commercial capacity as of Q3FY24 stood at 73847 MW and 57849 MW respectively. The consolidated revenues for the quarter stood at Rs 42820 crore vs. Rs 44601 crore in Q3FY23. The PAT grew by 7% YoY to Rs 5208 crore. The company also declared a second interim dividend of Rs 2.25 per share.
Views: NTPC’s stock has been one of the best performer in CY23 after a lacklustre decadal performance. the same has been on account of aggressive foray into the renewable space on one hand and gradual addition on the thermal space. Going ahead we believe monetisation of the green renewable subsidiary and strong capacity addition trajectory will drive good financial performance for the company in the long run.
Impact: Positive