NTPC (NTPC) Q3 24/25 earnings summary

Executive summary

• Achieved robust operational and financial performance in Q3 FY25, with strong growth in both conventional and renewable energy segments.

• Successfully listed NTPC Green Energy Limited (NGEL), marking a milestone in renewable energy leadership; NGEL IPO reduced parent shareholding from 100% to 89.01%.

• Added 640 MW renewable and 660 MW coal capacity in nine months FY25; group commercial capacity reached 76,598 MW.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were reviewed and approved by the Board on 25 January 2025.

• Second interim dividend of INR 2.5/share declared for FY25, following a similar first interim dividend paid in November 2024.

Financial highlights

• Standalone total income for Q3 FY25 rose 5% YoY to INR 42,303 crores; nine months FY25 up 6% YoY to INR 128,601 crores.

• Standalone PAT for Q3 FY25 at INR 4,711 crores, up 3% YoY; nine months PAT at INR 13,871 crores, up 11% YoY.

• Group EBITDA for nine months FY25 increased 8% YoY to INR 16,056 crores.

• Standalone revenue from operations for Q3 FY25 was INR 41,352.27 crores; consolidated revenue was INR 45,052.82 crores.

• Adjusted standalone PAT for Q3 FY25 was INR 4,618 crores (up 6% YoY); consolidated adjusted PAT for Q3 FY25 was INR 4,964 crores (up 1% YoY).

Outlook and guidance

• Expect to maintain similar growth for the full year.

• Renewable capacity addition guidance: ~3 GW in FY25, 5 GW in FY26, and 8 GW in FY27.

• Targeting 60 GW renewable energy capacity by 2032.

• Thermal capacity under construction at 17.56 GW; total group capacity under construction exceeds 30 GW.

• Capacity charges and energy charges for the period have been provisionally recognized as per CERC Tariff Regulations, 2024, pending final tariff orders.