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NTPC Profit Jumps 14% on El Niño Driven Demand
31 Oct
Summary
- NTPC's second-quarter profit surged by 14%.
- Hotter, drier weather from El Niño increased electricity demand.
- The rise in demand was driven by cooling and irrigation needs.
NTPC Ltd., India's premier power producer, has reported a substantial 14% leap in its second-quarter profit.
This financial upswing occurred during the three months concluding in September, with net income reaching 53.2 billion rupees, a notable increase from the previous period's 46.5 billion rupees.
The driving force behind this profit growth was the prevailing El Niño weather pattern. Its associated hotter and drier conditions intensified the demand for electricity.
This surge in demand was primarily fueled by the need for cooling systems and extensive irrigation required for agriculture.
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