- Home
- Results news
- NHPC
- Q2 FY27 results
NHPC Q2 FY27 results: net profit up 35.9% to ₹1,658 crore, revenue up 33.2%
NHPC Limited reported consolidated Q2 FY27 revenue of ₹4,483 crore and a net profit of ₹1,658 crore, with EBITDA margin at 64.2%. Revenue rose 33.2% and net profit 35.9% from Q2 FY26, while profit before tax increased 20.6% from the previous quarter.
Key points
- Consolidated Q2 FY27 revenue was ₹4,483 crore, up 33.2% from Q2 FY26.
- EBITDA was ₹2,876 crore, up 41.9% year on year, with margin at 64.2%.
- Net profit was ₹1,658 crore, up 35.9% from Q2 FY26 and 40.7% from Q1 FY27.
- Basic EPS rose to ₹1.54 from ₹1.02 in Q2 FY26.
- H1 FY27 revenue was ₹8,290.86 crore, up 26.0%, and net profit was ₹2,835.66 crore, up 20.6%.
How did NHPC perform in Q2 FY27?
NHPC reported consolidated revenue of ₹4,483 crore for Q2 FY27, up 33.2% from ₹3,365 crore in Q2 FY26 and 17.7% from ₹3,808 crore in Q1 FY27. EBITDA rose to ₹2,876 crore from ₹2,027 crore a year earlier, while margin increased to 64.2% from 60.2%.
Net profit was ₹1,658 crore, up 35.9% from ₹1,219 crore in Q2 FY26 and 40.7% from ₹1,178 crore in Q1 FY27. Basic EPS rose to ₹1.54 from ₹1.02 year on year and ₹1.09 in the previous quarter. Profit attributable to owners was ₹1,549 crore, compared with ₹1,021 crore and ₹1,096 crore, respectively.
On a standalone basis, revenue was ₹4,124.77 crore and net profit was ₹1,525.49 crore. Standalone profit before tax was ₹925.52 crore. The company’s board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 after review by the audit committee.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 4,483 | 3,808 | 3,365 | +33.2% | +17.7% |
| Other income | 187.03 | 151.41 | 264.72 | −29.3% | +23.5% |
| Total expenses | 2,773 | 2,662 | 2,058 | +34.8% | +4.2% |
| EBITDA | 2,876 | 2,352 | 2,027 | +41.9% | +22.3% |
| EBITDA margin | 64.2% | 61.8% | 60.2% | +4.0 pp | +2.4 pp |
| Profit before tax | 1,897 | 1,298 | 1,572 | +20.6% | +46.1% |
| Tax | 535.99 | 375.61 | 535.99 | +0.0% | +42.7% |
| Net profit | 1,658 | 1,178 | 1,219 | +35.9% | +40.7% |
| EPS (₹) | 1.54 | 1.09 | 1.02 | +51.0% | +41.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in NHPC's costs and profit?
Total expenses rose ₹715.44 crore, or 34.8%, from Q2 FY26 to ₹2,773 crore. Employee cost increased ₹65.70 crore to ₹392.16 crore, finance costs rose ₹278.48 crore to ₹556.17 crore, depreciation increased ₹168.57 crore to ₹610.03 crore, and other expenses rose ₹202.69 crore to ₹1,215 crore. There was no exceptional item in either quarter.
Other income fell ₹77.69 crore, or 29.3%, from ₹264.72 crore in Q2 FY26 to ₹187.03 crore. Tax was unchanged at ₹535.99 crore despite higher profit before tax, which rose ₹324.16 crore, or 20.6%, to ₹1,897 crore. The filing does not state reasons for the movements in costs or other income.
Against Q1 FY27, total expenses increased ₹111.45 crore, or 4.2%, to ₹2,773 crore. Employee cost fell ₹8.85 crore to ₹392.16 crore and finance costs fell ₹49.59 crore to ₹556.17 crore, while depreciation rose ₹10.38 crore to ₹610.03 crore and other expenses increased ₹159.51 crore to ₹1,215 crore.
Other income increased ₹35.62 crore from ₹151.41 crore in Q1 FY27 to ₹187.03 crore, while tax rose ₹160.38 crore from ₹375.61 crore to ₹535.99 crore. Profit before tax increased ₹598.41 crore to ₹1,897 crore, and net profit rose ₹479.48 crore to ₹1,658 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 392.16 | 326.46 | +65.70 | +20.1% |
| Finance costs | 556.17 | 277.69 | +278.48 | +100.3% |
| Depreciation | 610.03 | 441.46 | +168.57 | +38.2% |
| Other expenses | 1,215 | 1,012 | +202.69 | +20.0% |
| Total expenses | 2,773 | 2,058 | +715.44 | +34.8% |
| Other income | 187.03 | 264.72 | −77.69 | −29.3% |
| Tax | 535.99 | 535.99 | 0 | +0.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹8,290.86 crore, up ₹1,711.83 crore, or 26.0%, from ₹6,579.03 crore in H1 FY26. Total income rose ₹1,556.56 crore, or 22.0%, to ₹8,629.3 crore, while profit before tax increased ₹288.42 crore, or 9.9%, to ₹3,194.79 crore.
Net profit for H1 FY27 was ₹2,835.66 crore, compared with ₹2,350.44 crore in H1 FY26, an increase of ₹485.22 crore or 20.6%. EPS rose by ₹0.55, or 26.4%, from ₹2.08 to ₹2.63.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 8,291 | 6,579 | +26.0% |
| Profit before tax | 3,195 | 2,906 | +9.9% |
| Net profit | 2,836 | 2,350 | +20.6% |
| EPS (₹) | 2.63 | 2.08 | +26.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹128,505.83 crore, compared with ₹120,010.89 crore at 31 March 2026. Total equity increased to ₹50,751.78 crore from ₹48,404.85 crore, and borrowings rose to ₹57,219.56 crore from ₹52,133.94 crore. Cash and cash equivalents stood at ₹2,751.04 crore, higher than ₹1,961.15 crore.
Inventories increased from ₹293.88 crore to ₹298.77 crore, trade receivables rose from ₹2,629.4 crore to ₹4,283.37 crore, and trade payables increased from ₹387.04 crore to ₹434.18 crore between 31 March 2026 and 30 September 2026. The filing does not explain the movement in receivables.
H1 FY27 operating cash flow was ₹3,179.16 crore, compared with ₹1,583.21 crore in H1 FY26. Investing cash flow was negative ₹5,228.61 crore against negative ₹5,046.17 crore, financing cash flow was ₹2,839.34 crore against ₹3,803.68 crore, and capital expenditure was ₹5,685.06 crore compared with ₹5,094.06 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,28,506 | 1,20,011 |
| Total equity | 50,752 | 48,405 |
| Borrowings | 57,220 | 52,134 |
| Cash and equivalents | 2,751 | 1,961 |
| Inventories | 298.77 | 293.88 |
| Trade receivables | 4,283 | 2,629 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 3,179 | 1,583 |
| Cash from investing | −5,229 | −5,046 |
| Cash from financing | 2,839 | 3,804 |
| Capital expenditure | 5,685 | 5,094 |
Source: Company's results filing (XBRL).
How has NHPC done over the last 8 quarters?
Revenue and net profit were at their highest levels in Q2 FY27 within the eight-quarter trend. Revenue reached ₹4,483 crore and net profit ₹1,658 crore, while EBITDA margin rose to 64.2% from 61.8% in Q1 FY27. Revenue and profit have risen year on year in each of the last three quarters.
The lowest revenue in the period was ₹2,220.73 crore in Q3 FY26, and net profit was ₹320.6 crore. EBITDA margin bottomed at 9.5% in the same quarter. The latest results moved revenue, profit and margin above the earlier peaks of ₹3,808 crore, ₹1,549.42 crore and 61.8%, respectively, in Q1 FY27.
How did other Power Generation companies do?
Fourteen other Power Generation companies that filed for the quarter had a median revenue growth of 17.2%. NHPC’s revenue growth of 33.2% was higher than the growth of 10 peers and lower than the growth of 4 peers.
Among 15 peers for which profit was compared, 11 reported higher profit. The peer data was recorded as of 5 November 2026.
| NHPC revenue growth (YoY) | +33.2% |
|---|---|
| Median of 14 other Power Generation companies | +17.2% |
| Companies with slower revenue growth than NHPC | 10 of 14 |
| Companies with faster revenue growth than NHPC | 4 of 14 |
| Companies whose net profit rose | 11 of 15 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was NHPC's revenue in Q2 FY27?
Revenue from operations was ₹4,483 crore, up 33.2% from ₹3,365 crore in Q2 FY26 (consolidated).
Did NHPC make a profit in Q2 FY27?
Yes. Net profit was ₹1,658 crore, against a net profit of ₹1,219 crore in Q2 FY26.
What was NHPC's EPS in Q2 FY27?
Basic earnings per share were ₹1.54, against ₹1.02 in Q2 FY26.
When did NHPC announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering Un-Audited Financial Results For The Quarter Ended 30.09.2026 (BSE, 16 October 2026) · PDF
- Unaudited Financial Results For Quarter And Half Year Ended 30.09.2026 (BSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.