Shares of NTPC Ltd. dropped by 1.30% after touching a day’s high of Rs 429.85 on 20th September, despite the company’s announcement that its board of directors had granted investment approval for two major thermal power projects with a combined investment of Rs 20,921.85 crore on Thursday.

The Sipat Super Thermal Power Project (Stage-III), located in Chhattisgarh, will be expanded by 1×800 MW at an estimated cost of Rs 9,790.87 crore.

It is advised that the company’s board of directors, in its board meeting dated 19th September 2024, has granted the investment approval for the Sipat Super Thermal Power Project-Stage-III (1×800 MW) after considering the current estimated cost of Rs 9,790.87 crore, as per a filing to the stock exchange.

The board has also approved investment for the Darlipali Super Thermal Power Project (Stage-II) in Odisha, which will provide 1×800 MW of capacity to NTPC at an estimated cost of Rs 11,130.98 crore.

The company, in an announcement, said, “We wish to inform that the Board of Directors of the Company, in its meeting held on 19th September, 2024, has accorded investment approval for Darlipali Super Thermal Power Project, Stage-II (1×800 MW) at the current estimated cost of Rs 11,130.98 crore.”

For the period of April to June in 2024, the company noted an increase in revenue of 13.5% year-over-year, reaching Rs 44,419 crore, compared to Rs 39,122 crore in the same period the previous year.

The company’s profit during the first quarter of FY25 increased 11% year-over-year, reaching Rs 4,511 crore compared to Rs 4,066 crore from the previous year.

The company’s EBITDA increased by 9.5% from the June quarter of last year, reaching Rs 12,466 crore, according to the company’s regulatory filing.

At 9:59 AM, the shares of NTPC Ltd. were trading 0.78% lower at Rs 420.65 on NSE.

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