In a report, the ratings agency said it also expects the receivable days (payment cycle) to further shorten in the near term.
"Fitch Ratings expects India's power demand to increase by about 7% in financial year 2023-2024 (FY24), following a 7.1% rise in first half of FY24, driven by robust industrial activity. This compares with a 9.5% rise in FY23.
The strong power demand should keep the average thermal power plant load factor (PLF) above 60%," the report said.
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