Bernstein has maintained its outperform rating on NTPC with a target price of Rs 440, calling Q3 FY25 a modest quarter for the power major. While NTPC retained its commissioning guidance for Q4, Bernstein noted that the company faces a steep task to meet its targets over the next two months. The brokerage highlighted NTPC as the best hedge across thermal and renewable energy, trading at valuations lower than its global peers. However, project delays and soft power demand continue to weigh on performance. Bernstein remains optimistic due to NTPC’s increased order placements and rising interest in inorganic opportunities, particularly in collaborations with state power generators.
NTPC Q3 RESULTS
NTPC Limited reported its financial performance for Q3 FY25, showcasing steady growth across key metrics. The company’s consolidated revenue increased by 4.8% YoY to ₹41,352.3 crore compared to ₹39,455 crore in Q3 FY24.
Net profit for the quarter rose by 3.1% YoY to ₹4,711.4 crore, up from ₹4,571.9 crore in the same period last year. The company’s EBITDA also posted a significant growth of 20.3% YoY, reaching ₹11,960.6 crore compared to ₹9,941 crore in Q3 FY24, reflecting strong operational efficiency.
The EBITDA margin expanded to 28.9% from 25.2% a year ago, indicating improved profitability.
Additionally, NTPC announced an interim dividend of ₹25 per share, reinforcing its commitment to shareholder returns.
