State-owned NTPC gained over 2% on Monday, March 18, after the company declared the beginning of commercial operations of its second unit of 660 MW capacity at the North Karanpura Super Thermal Power Station (3x660 MW) in Jharkhand.
The commercial operations will begin from March 20, the central public sector undertaking (PSU) said in a stock exchange filing.
“Unit 2 (660 MW) of North Karanpura Super Thermal Power Project (3x660 MW) is declared on commercial operation with effect from 00:00 Hrs. of 20.03.2024," NTPC said.
With this, standalone and group commercial capacity of NTPC will stand at 59,298 MW and 75,418 MW respectively.
The first unit of the 660 MW capacity project started commercial operations from March 1, 2023.
In NTPC's third quarter earnings report last month, the company's profit rose by more than 5% to ₹4,476 crore from ₹4,246 crore in the corresponding quarter last year.
The company reported a 36.8% surge in revenue at ₹41,410 crore in the December 2023 quarter, compared to ₹30,265 crore in the same period last year. However, the company's margin remained unchanged compared to the previous year.
In January, the power giant entered into a Memorandum of Understanding (MoU) with the Tripura government for the development of renewable energy. In December 2023, NTPC initiated operations for the 10 MW Solapur solar PV project in Maharashtra.
NTPC is primarily involved in the generation and sale of electricity, both from conventional and renewable energy sources. The company has a significant presence in coal, gas, hydro, and renewable energy projects across India.
Shares of NTPC were trading 1.09% higher at ₹319.45 apiece on BSE at 10.36 am.
Also Read: SJVN gains nearly 5% after its renewable arm receives LoI for 200 MW solar project in Gujarat
First Published: Mar 18, 2024 11:32 AM IST
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