Ntpc / Q2-FY24

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Positive2023-10-31Back to NTPC

Revenue

₹44,983 Cr

verified against source

Revenue YoY

—

reported change

EBITDA

Pending

latest reported figure

Source

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Actual signal trajectory

Where this quarter sits.

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Revenue (₹ Cr)PositiveWatchNegative
8 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q2 FY24: 44,983 · Positive source sentiment · 2023-10-31Q2 FY24Q3 FY24: 42,820 · Positive source sentiment · 2024-01-30Q3 FY24Q4 FY24: 47,628 · Positive source sentiment · 2024-05-15Q4 FY24Q2 FY25: 44,706 · Positive source sentiment · 2024-10-30Q2 FY25Q3 FY25: 45,069 · Positive source sentiment · 2025-01-21Q3 FY25Q4 FY25: 49,834 · Positive source sentiment · 2025-05-15Q4 FY25Q2 FY26: 44,786 · Positive source sentiment · 2025-10-30Q2 FY26Q3 FY26: 45,846 · Watch source sentiment · 2026-01-30Q3 FY2649,83442,820
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

NTPC reported a strong Q2 FY24 with PAT of INR 3,885 crore, up 16.6% YoY, driven by higher generation and improved coal availability. Standalone gross generation rose to 179 BU in H1, with coal PLF at 76.62% vs national average of 68.75%. The company is aggressively expanding its renewable pipeline, targeting 15 GW by FY26 and 60 GW by FY32, while also planning to award 11.2 GW of new thermal capacity over the next 12 months. Coal production hit a record 16.06 MMT in H1, up 83% YoY. Management guided for a consolidated PAT premium of 15-20% over standalone. Key risk: execution delays in renewable and pumped storage projects due to clearances and supply chain issues.

Colored figures show movement against the previous available record.

Guidance to track

  • NTPC plans to award 11.2 GW of new thermal capacity over the next 12 months, with 50% standalone and 50% via JVs.
  • NTPC expects to commission 15 GW of renewable energy capacity by the end of FY26.
  • NTPC aims to achieve 60 GW of renewable capacity by FY32.
  • NTPC group CapEx target for FY24 is INR 28,373 crore, with H1 achieving 47%.

Risks flagged

  • Renewable capacity addition was muted in Q2 due to clearance and module sourcing issues; bulk expected in Q4.
  • Coal stock at pithead stations is low, though overall stock is 8.5 days; receipts expected to improve.
  • THDC pump hydro project faced last-minute issues; first unit now expected by Jan/Feb 2024.
  • New grid code may impact power sales; NTPC is in dialogue with regulator on concerns.

Key quotes

  • We have a long-term target of 60 GW by the end of financial year 32.
  • We are actively considering awarding thermal capacity of 11.2 GW by next fiscal.
  • We have a visible pipeline of more than 20 GW in the near term.

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