India’s largest power producer NTPC reported a 25% jump in quarterly profits ending December 2021 to INR 41.3bn ($551mn) with revenues jumping 18% YoY to INR 288.6bn ($3.8bn). The strong results come after demand for electricity soared as factories and commercial establishments ramped up operations post the pandemic induced slowdown. NTPC’s coal-fired plants, which account for 89% of its standalone generation capacity, operated at an average utilization rate of about 68%, NTPC said that average tariff for 9M 2021 ending December stood at INR 3.91/unit, vs. INR 3.87/unit in the prior fiscal period.

NTPC’s dollar bonds were trading stable with its 4.25% 2026s at 105.52, yielding 2.8%.

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