NTPC begins commercial operations of second part of 90MW solar project in Rajasthan, shares hit 52-week high

The public sector undertaking (PSU) announced on Friday that it has successfully commissioned the second and last part capacity of 33 MW out of a total of 90 MW Anta Solar PV Project located in Anta, Rajasthan.

The said project is now declared on commercial operation starting 5 pm of May 31, 2024, the company informed the stock exchanges.

Taking the latest commissioning of the solar project into account, the total installed and commercial capacity of NTPC has now become 59,168 MW on a standalone basis, while standing at 76,048 MW on a group basis.

The state-owned company reported a consolidated net profit of ₹6,490.05 crore for the quarter ending on March 31, 2024, marking an uptick of 33.22% on a year-on-year (YoY) basis from ₹4,871.55 crore in the same period last year.

Its consolidated revenue from operations made a single-digit growth in the final quarter of the financial year 2024, rising 7.6% YoY to ₹47,622.06 crore as compared to ₹44,253.17 crore in the corresponding quarter of the previous fiscal year.

NTPC’s operating margin also witnessed an expansion in Q4FY24 at 22.06% compared to 19.37% in the year-ago period, while also rising from 21.41% in the December 2023 quarter.

Similarly, its net profit margin expanded to 13.63% in the January to March 2024 period from 11.01% in the same quarter last year and 12.16% in the preceding quarter.

Further, the company’s Board of Directors recommended a final dividend at the rate of 32.5% at ₹3.25 per equity share for the financial year 2023-24, subject to approval of its shareholders at the company’s ensuing Annual General Meeting (AGM).

Shares of NTPC Ltd closed 9.33% higher at ₹392.5 apiece on the NSE.