NTPC Green Energy's Stock Slumps Despite Profit Increase

NTPC Green Energy's shares dropped over 3% as the company's quarterly earnings did not meet investor expectations. Despite an 18% rise in net profit, totaling Rs 65.61 crore, and higher income, the market remained unimpressed, leading to a decline in stock value on both BSE and NSE.

Shares of NTPC Green Energy dropped more than 3% on Monday following the release of its December quarter earnings, which failed to meet investor expectations. The company's shares declined by 3.48% on the BSE to close at Rs 108.25 and by 3.09% on the NSE, ending at Rs 108.85.

During the intraday session, the stock hit a 52-week low, plunging by 4.4% on both exchanges. Significant trading volumes were observed as 1.57 crore shares were traded on the NSE and 5.38 lakh shares on the BSE.

The company reported an 18% increase in consolidated net profit to Rs 65.61 crore for the December quarter. Despite higher total income of Rs 581.46 crore, up from Rs 463.46 crore, increased expenses and unenthusiastic market sentiment contributed to the drop in stock value.

(With inputs from agencies.)