NTPC share price target: PSU stock hits record high on Q4 earnings, final dividend; should you buy or wait?

NTPC dividend 2024, NTPC share price NSE today, NTPC Q4 results: Shares of NTPC clocked an all-time high on Monday, May 27 after the public sector power generator reported its March quarter earnings report followed by positive reactions from global brokerages. The NPTC stock rose 1.48 per cent to hit an all-time high of Rs 380.5 on the NSE in morning deals. The counter closed at Rs 370.15, down 1.28 per cent on NSE.

NTPC share price target: Should you buy or wait?

Citi has maintained a buy call on NTPC. The brokerage has raised the target on the PSU stock to Rs 467 apiece from Rs 407 apiece, implying a 24.5 per cent upside from the previous close. 

Jefferies too has retained a buy call on NTPC. The brokerage has revised the target to Rs 445 apiece from Rs 415 apiece. According to the brokerage, Q4 profit was in line with the brokerage's expectations. The brokerage stated the following points in its note: 

• Execution pace to pick up
• Earnings visibility improves with thermal
• Regulated ROE in place at 15.5 per cent for FY25-29
• Re-rating to continue with execution ramp-up

Morgan Stanley has continued an overweight rating with a target of Rs 390. The brokerage noted the following points:

• The company's parent earnings missed estimates due to fixed cost under-recoveries
• Consolidated PAT was a miss driven by lower profit contributions from subsidiaries
• The company has a strong re portfolio of 23.2 GW; RE IPO possible by October/November 24
   

NTPC Q4 results 2024 

NTPC reported a consolidated net profit of Rs 6,490.05 for the fourth quarter of 2023-24, up 33 per cent from Rs 4,871.5 crore in 2022-23. 

The company's standalone total income for the financial year stood at Rs 1,65,707 crores, as against the previous year's total income of Rs 1,67,724 crores. The consolidated net profit was up by 24.5 percent from 5208.87 in the December quarter, the Ministry of Power added in a release on Saturday.

On a consolidated basis, the total income of the group for FY24 was Rs 1,81,166 crores as against the previous year's total income of Rs 177,977 crores, registering an increase of 2 per cent.  Profit after tax of the group for FY24 was Rs 21,332 crores as against the corresponding previous year PAT of Rs 17,121 crores, registering an increase of 24.60 per cent.

The company reported revenue from operations at Rs 47622.06, an increase of 7.6 per cent compared to Rs 44253.17 a year ago.

Profit After Tax (PAT) for FY 24 was Rs 18,079 crores as against Rs 17,197 crores in FY23, an increase of 5 per cent. 

The PSU saw the highest-ever annual electricity generation of 422 billion units in FY24 as compared to 399 billion units in FY23, an increase of 6 per cent. Read more on NTPC Q4 results 2024 

NTPC dividend 2024

NTPC has recommended a final dividend of Rs 3.25 per equity share, subject to the approval of shareholders in the ensuing Annual General Meeting. 

NTPC dividend history

The total dividend for the year would be Rs 7.75 per equity share as compared to Rs 7.25 per equity share last year, the filing added.

This is the 31st consecutive year of dividend payments by the power sector public sector unit.

(With PTI inputs)

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