August 30th 2023.
The board of directors of NTPC Limited has given approval for an investment of ₹15,529.99 crore towards the Lara Super Thermal Power plant, stage-II for 2x800 MW. This was announced in an exchange filing by the company.
The company reported a 23% increase in consolidated net profit for the June quarter of the year 2023-24, reaching Rs 4,907.13 crore. This is compared to the net profit of Rs 3,977.77 crore during the same period the previous year. The total revenue from operations dipped slightly to Rs 43,390.02 crore, from Rs 43,560.72 crore in the same period a year ago.
On a standalone basis, total income of NTPC for the first quarter of FY24 was Rs 39,681 crore, compared to Rs 40,726 crore in the same quarter of FY23. Profit After Tax for the quarter was Rs 4,066 crore, registering an increase of 9.39% from Rs 3,717 crore in the same quarter of the preceding year. The average power tariff of the company during the April-June period of 2023 was Rs 4.53 per unit, lower than Rs 4.57 per unit in the same period a year ago.
On Wednesday, the shares of NTPC Limited closed at Rs 220.50, down by 0.27%. This was despite the company's Q1 earnings report, which saw the stock jump 3% to touch its 52-week high.
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