CLSA has maintained its outperform rating on NTPC with a target price of Rs 459, highlighting the company’s strong operational efficiency in Q3 FY25. The brokerage noted a significant improvement in operating performance compared to the first half of the fiscal year, with incentives doubling due to growth in the thermal plant availability factor (PAF). CLSA attributed this improvement to NTPC’s execution capabilities and a supportive regulatory regime for FY25-29.
The brokerage also pointed to large capacity additions scheduled for Q4 and double-digit regulated equity growth in FY24 as key positives driving its positive outlook for the stock.
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. Additionally, NTPC announced an interim dividend of ₹25 per share, reinforcing its commitment to shareholder returns.
