NTPC shares dip 1.2% despite 7.3% Rise in Q3FY24 Net Profit

Shares of NTPC witnessed a 1.2% decline in the opening trade on the NSE on January 30, a day after the company disclosed a 7.3% increase in net profit for the third quarter of the fiscal year 2023-24, despite experiencing a 3.9% decline in revenue.

As per the regulatory filing on January 29, NTPC reported a revenue from operations of Rs 42,820.38 crore for the December 2023 quarter, marking a 3.9% decrease from Rs 44,601.84 crore in the corresponding period of the previous year. However, the net profit for Q3FY24 rose to Rs 5,208.87 crore from Rs 4,854.36 crore in the last fiscal year.

Advertisement

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the reporting period saw an 18% YoY decline to Rs 12,116.42 crore, with the margin decreasing from 33% to 28%.

Bloomberg had anticipated the net profit for the period to be approximately Rs 4,930 crore, with the projected revenue reaching Rs 44,646.80 crore.

As of 10:22 am, NTPC shares were trading at ₹322.40, reflecting the market response following the financial results announcement.