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Axis Securities Report
NTPC Ltd.’s net sales stood down 4%/5% YoY/QoQ and missed the Bloomberg consensus by 4%. Ebitda stood down by 22%/10% YoY/QoQ and missed the consensus by 11%.
However, profit after tax stood up 7%/10% YoY/QoQ, beating the consensus by 7% led by higher regulatory deferral account balances.
Regulated equity as of December 31, 2023 stood at Rs 82,094 crore on a standalone basis and Rs 98,712 crore on a consolidated basis. The average rate of interest during 9M FY24 was at 6.66% versus 6.32% last year.
NTPC declared its first Interim dividend of Rs 2.25/share for FY24 in October 2023, which was paid in Nov-23.
It has declared a second Interim dividend now of Rs 2.25/share for FY24.
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