NTPC shares gained momentum after quarterly results, stock rose 3 percent in early trade

NTPC's net profit has increased by 23 percent in the April-June quarter of the financial year 2023-24. After the quarterly results of the company, its stock has also seen an increase. The company's stock was trading 3 percent higher in Monday's session. Let us tell you that the company's shares have reached a 52-week high.
The company's stock jumped 3 percent to hit a 52-week high of Rs 216.45 on the BSE today. Meanwhile, the company's shares climbed 3 percent to a 52-week high of Rs 216.50 on the NSE.
At the time of writing the news, the company's stock was trading at Rs 216.20 per share, up 6.20 points.
State-owned power company NTPC released the results for the first quarter of the current financial year i.e. April-June on Saturday. This quarter the net profit of the company has increased by more than 23 percent. Now the net profit of the company has reached Rs 4,907.13 crore. NTPC said in a BSE filing that the company's net profit stood at Rs 3,977.77 crore in the same period a year ago.
The company's total revenue from operations stood at Rs 43,560.72 crore in the year-ago June period. Which decreased slightly to Rs 43,390.02 crore in the first quarter of this year. On a standalone basis, the company's total income in the first quarter of FY 2023-24 stood at Rs 39,681 crore. Prior to this, the total income of the company was Rs 40,726 crore.
It added that the Profit After Tax (PAT) on a standalone basis was Rs 4,066 crore. Whereas, it was Rs 3,717 crore in the first quarter of FY2013, ie, this quarter shows a growth of 9.39 percent.