NTPC appears to be on a strong footing compared to its peers

The capacity addition by NTPC this financial year has made it stand out among major power generating companies, which are presently finding it difficult to add capacity due to land-acquisitions and fuel supply issues. In FY13, NTPC added 4170 MW of power generating capacity, which is the highest by the company in any given year. With this, the company has met 30% of the target set for the twelfth five-year plan. NTPC’s March quarter results were rather disappointing as the company was not able to fully benefit from low international coal prices. Owing to technical issues, the company has been unable to import the required quantity of coal. As a result, its plant load factor or PLF for coal-based plants decreased 390 basis points to 87.2% in the March 2013 quarter. In addition to this, lower gas availability in the country led to low PLF in its gas based plants. Its PLF at gas-based plant dropped to 42.9% from 67% in the same period a year ago. Hence, excluding an exceptional gain of Rs xx crore, its profits in this quarter marginally grew by 4% to Rs 2,697 crore.

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