India’s NTPC Reports Profit Growth on Boost in Power Generation
(Bloomberg) --
NTPC Ltd. reported quarterly profit slightly ahead of expectations, as a recent capacity addition helped India’s biggest power producer to ramp up electricity generation.
Net income in the three months through March 31 rose 4% to 57.8 billion rupees ($678 million), according to a stock exchange filing Saturday, beating the average analyst estimate of 56.9 billion rupees.
Rising electricity demand in the country has prompted the New Delhi-based company to increase capacity and maintain its market leadership. Power generation in the country rose more than 5% during the January-March quarter from a year earlier, Elara Capital said in a note last month. India’s peak power demand is projected to expand 8% in 2025 to 270 gigawatt, according to the Central Electricity Authority.
The state-owned company aims to add 3.6 gigawatts of coal-fired generation in the current fiscal through March 2026, against just 660 megawatts a year earlier. Prime Minister Narendra Modi’s government has doubled down on coal, prioritizing energy security over environment and climate as a growing economy and longer spells of heat waves have resulted in a surge in electricity demand.
NTPC has a goal to ramp up its generation base to 130 gigawatts in the year through March 2032, from about about 80 gigawatts, according to its website. As about 87% of the company’s installed capacity is based on fossil fuels, it seeks to bring down the number to half by 2032 as it focuses on green energy.
The company’s spending on fuel remained largely unchanged at 241.3 billion rupees, while tax expenditure rose 10% during the January-March period from a year earlier. Revenue for the quarter was about 3% higher at 439 billion rupees.
©2025 Bloomberg L.P.
