NTPC Q3 FY25 Earnings Preview: Analysts Predict Steady Growth in Revenue and Profit

Key Projections for Q3 Performance

NTPC is expected to report a 9% year-on-year increase in revenue to ₹43,014 crore for Q3 FY25, according to analyst estimates. Net profit is projected to rise to ₹5,016 crore, driven by higher power generation and stable operational costs.

Factors Driving Growth

• Power Generation Surge: Increased capacity utilization with coal plant load factor (PLF) reaching 76.2%.
• Capacity Expansion: 155 MW of new solar capacity added in Q3, with plans to commission 20 GW of renewables by 2027.
• Regulated Equity Model: Stable returns from cost-plus tariffs ensure a 15.5% return on equity for thermal projects.

Strategic Developments and Market Outlook

The company’s thermal under-construction capacity expanded to 17.6 GW, with recent approvals for 6.4 GW of coal-fired projects. Analysts highlight NTPC’s focus on balancing conventional and renewable energy investments. For broader sector trends, explore our power sector stocks analysis.

Investor Focus Areas

• Management commentary on renewable energy initiatives, including green hydrogen.
• Progress on capital expenditure and capacity ramp-up timelines.
• Impact of regulatory frameworks on long-term profitability.

Broader Implications for the Power Sector

NTPC’s performance reflects India’s growing energy demand, with December 2024 power consumption rising 5.9% YoY. The company’s regulated business model positions it as a resilient player in volatile markets.

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