NTPC logs 6% profit growth in FY23 at Rs 17,197 cr; income rises 34.45%

India’s largest power generation company NTPC Limited has recorded a 5.62 per cent increase in its profit to Rs.17,197 crore during the 2022-23 financial year. During the same period, the company’s total income witnessed an increase of 34.45% during FY23.

NTPC’s total income for FY23 was Rs.167,724 crore as against the previous year’s income of Rs.124,750 crore. During the fourth quarter, NTPC’s net profit fell to Rs.5,672 crore. It was Rs.4,476 crore during the third quarter of FY23.

NTPC has operated coal-based power units, and achieved a “plant load factor” (PLF), or operating rate, of 75.9 percent, against the national average of 64.21 percent during FY23.

Rising demand due to the post-Covid recovery, along with economic growth, has driven energy demand. During the fourth quarter of fiscal year ’23, energy demand touched a record high of 200 gigawatts.

Mandated to import coal to meet growing demand and address shortages in domestic coal supplies, the DOE has mandated power generators, including the NTPC, to import coal up to 6 percent of their total needs. Purchases of imported NTPC coal increased to 14.5 million tons in FY23 compared to 2 million tons in FY22.

Domestic coal purchases saw a slight increase of 4.6 percent and total coal requirements increased by 10 percent for the company. The improved cost of coal affected the energy tariff that the NTPC charged from its customers. The average tariff charged by the NTPC increased by 21 percent during FY23 compared to the previous year.