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NTPC Green Energy Q2 FY27 results: net profit up 59.2% to ₹137.50 crore, revenue up 53.2%
NTPC Green Energy Limited reported Q2 FY27 consolidated revenue of ₹938.16 crore and a net profit of ₹137.50 crore. Revenue rose 53.2% from Q2 FY26, while profit rose 59.2%; compared with Q1 FY27, revenue fell 15.2% and profit fell 54.9%.
Key points
- Consolidated Q2 FY27 revenue was ₹938.16 crore, up 53.2% from ₹612.29 crore in Q2 FY26, but down 15.2% from ₹1,107 crore in Q1 FY27.
- EBITDA was ₹829.69 crore at an 88.4% margin, compared with ₹529.60 crore and 86.5% in the year-ago quarter.
- Net profit was ₹137.50 crore and basic EPS was ₹0.16, compared with ₹86.38 crore and ₹0.10 in Q2 FY26.
- Total expenses rose 59.0% year on year to ₹876.03 crore, including finance costs of ₹377.99 crore and depreciation of ₹389.57 crore.
- H1 FY27 revenue was ₹2,045.02 crore and net profit was ₹442.34 crore, up 58.2% and 44.2% from H1 FY26.
How did NTPC Green Energy perform in Q2 FY27?
NTPC Green Energy reported consolidated revenue of ₹938.16 crore for Q2 FY27, up 53.2% from ₹612.29 crore in Q2 FY26 but down 15.2% from ₹1,107 crore in Q1 FY27. EBITDA rose to ₹829.69 crore from ₹529.60 crore a year earlier and fell from ₹988.71 crore in the previous quarter; the margin was 88.4%, against 86.5% and 89.3%.
Consolidated net profit was ₹137.50 crore, compared with ₹86.38 crore in Q2 FY26 and ₹304.84 crore in Q1 FY27. Basic EPS was ₹0.16, against ₹0.10 and ₹0.36, respectively. On the standalone basis, revenue was ₹515.31 crore and profit was ₹135.81 crore; the company approved both standalone and consolidated results for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 938.16 | 1,107 | 612.29 | +53.2% | −15.2% |
| Other income | 62.60 | 14.79 | 44.43 | +40.9% | +323.3% |
| Total expenses | 876.03 | 782.37 | 550.97 | +59.0% | +12.0% |
| EBITDA | 829.69 | 988.71 | 529.60 | +56.7% | −16.1% |
| EBITDA margin | 88.4% | 89.3% | 86.5% | +1.9 pp | −0.9 pp |
| Profit before tax | 124.73 | 339.28 | 105.75 | +17.9% | −63.2% |
| Tax | 28.10 | 63.48 | 35.25 | −20.3% | −55.7% |
| Net profit | 137.50 | 304.84 | 86.38 | +59.2% | −54.9% |
| EPS (₹) | 0.16 | 0.36 | 0.10 | +60.0% | −55.6% |
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 NTPC Green Energy's costs and profit?
Total expenses increased 59.0% from ₹550.97 crore in Q2 FY26 to ₹876.03 crore in Q2 FY27. Finance costs rose ₹171.06 crore, or 82.7%, to ₹377.99 crore, while depreciation increased ₹128.22 crore, or 49.1%, to ₹389.57 crore. Employee costs rose ₹2.64 crore to ₹23.14 crore and other expenses increased ₹23.14 crore to ₹85.33 crore; there was no exceptional item.
Other income increased ₹18.17 crore, or 40.9%, to ₹62.60 crore from ₹44.43 crore in the year-ago quarter. Profit before tax rose ₹18.98 crore, or 17.9%, to ₹124.73 crore, while tax fell ₹7.15 crore, or 20.3%, to ₹28.10 crore. Net profit consequently rose ₹51.12 crore, or 59.2%, to ₹137.50 crore.
Against Q1 FY27, total expenses rose ₹93.66 crore, or 12.0%, as finance costs increased ₹56.48 crore to ₹377.99 crore and depreciation rose ₹46.86 crore to ₹389.57 crore. Other expenses fell ₹9.65 crore and other income rose ₹47.81 crore; PBT fell ₹214.55 crore and tax fell ₹35.38 crore, with profit declining ₹167.34 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 23.14 | 20.50 | +2.64 | +12.9% |
| Finance costs | 377.99 | 206.93 | +171.06 | +82.7% |
| Depreciation | 389.57 | 261.35 | +128.22 | +49.1% |
| Other expenses | 85.33 | 62.19 | +23.14 | +37.2% |
| Total expenses | 876.03 | 550.97 | +325.06 | +59.0% |
| Other income | 62.60 | 44.43 | +18.17 | +40.9% |
| Tax | 28.10 | 35.25 | −7.15 | −20.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue rose 58.2% to ₹2,045.02 crore from ₹1,292.5 crore in H1 FY26. Total income increased 50.7% to ₹2,122.41 crore from ₹1,408.41 crore, while profit before tax rose 27.2% to ₹464.01 crore from ₹364.89 crore.
Net profit for the first half rose 44.2% to ₹442.34 crore from ₹306.86 crore, and basic EPS increased 40.5% to ₹0.52 from ₹0.37. The filing records these as the consolidated results for the half year ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,045 | 1,292 | +58.2% |
| Profit before tax | 464.01 | 364.89 | +27.2% |
| Net profit | 442.34 | 306.86 | +44.2% |
| EPS (₹) | 0.52 | 0.37 | +40.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, consolidated total assets were ₹66,823.35 crore, against ₹60,381.79 crore at 31 March 2026. Total equity increased to ₹19,691.26 crore from ₹19,189.23 crore, borrowings rose to ₹35,227.56 crore from ₹29,258.18 crore, and cash increased to ₹835.94 crore from ₹101.61 crore.
H1 FY27 operating cash flow was ₹1,699.47 crore, compared with ₹1,102.8 crore in H1 FY26. Investing cash flow was -₹6,021.3 crore against -₹2,667.98 crore, financing cash flow was ₹5,056.16 crore against ₹1,537.79 crore, and capital expenditure was ₹6,064.1 crore compared with ₹5,942.74 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 66,823 | 60,382 |
| Total equity | 19,691 | 19,189 |
| Borrowings | 35,228 | 29,258 |
| Cash and equivalents | 835.94 | 101.61 |
| Inventories | 37.26 | 36.16 |
| Trade receivables | 627.65 | 614.41 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1,699 | 1,103 |
| Cash from investing | −6,021 | −2,668 |
| Cash from financing | 5,056 | 1,538 |
| Capital expenditure | 6,064 | 5,943 |
Source: Company's results filing (XBRL).
How has NTPC Green Energy done over the last 8 quarters?
Revenue reached its highest level of the period in Q1 FY27 at ₹1,106.86 crore before falling to ₹938.16 crore in Q2 FY27. It had earlier bottomed at ₹505.08 crore in Q3 FY25, and revenue has risen year on year in each of the last four quarters.
Profit peaked at ₹304.84 crore in Q1 FY27 and fell to ₹137.50 crore in Q2 FY27; its earlier low was ₹17.32 crore in Q3 FY26. The EBITDA margin reached 90.0% in Q4 FY25, fell to 84.9% in Q4 FY26 and stood at 88.4% in Q2 FY27. Profit has risen year on year in each of the last two quarters.
How did NTPC Green Energy shares react?
The filing was released after market hours, with the base price at ₹83.80 against the previous close of ₹82.35. The stock was down 0.1% after five minutes, up 0.2% after 15 minutes and up 0.1% after 30 minutes. It closed the reaction day up 1.3%; by the next day’s close, it was unchanged from the pre-results close.
On the reaction day, the Power Generation industry median moved up 2.0%, compared with the Nifty Midcap 150’s 1.3% rise. NTPC Green therefore underperformed the industry median by 0.7 percentage points, and by the next day’s close its relative performance was -1.8 percentage points. Earlier reaction-day moves were mixed, including 6.3% on 22 July 2026, -6.3% on 29 January 2026 and 4.2% on 21 May 2025.
| After the filing | Stock | Power Generation median |
|---|---|---|
| 5 minutes | −0.1% | |
| 15 minutes | +0.2% | |
| 30 minutes | +0.1% | |
| Reaction day | +1.3% | +2.0% |
| Next day | −0.0% | +1.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 22 July 2026 | +6.3% |
| 22 May 2026 | −1.7% |
| 29 January 2026 | −6.3% |
| 29 October 2025 | −0.7% |
| 28 July 2025 | −1.2% |
| 21 May 2025 | +4.2% |
| 25 January 2025 | −3.7% |
Source: MarketPing price-reaction measurement.
How did other Power Generation companies do?
Among 13 other Power Generation companies that filed for the quarter, the median revenue growth was 13.3%. Ten grew more slowly than NTPC Green, while three grew faster than the company. Of the 14 peers whose profit was compared, 10 reported higher profit.
| NTPC Green Energy revenue growth (YoY) | +53.2% |
|---|---|
| Median of 13 other Power Generation companies | +13.3% |
| Companies with slower revenue growth than NTPC Green Energy | 10 of 13 |
| Companies with faster revenue growth than NTPC Green Energy | 3 of 13 |
| Companies whose net profit rose | 10 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was NTPC Green Energy's revenue in Q2 FY27?
Revenue from operations was ₹938.16 crore, up 53.2% from ₹612.29 crore in Q2 FY26 (consolidated).
Did NTPC Green Energy make a profit in Q2 FY27?
Yes. Net profit was ₹137.50 crore, against a net profit of ₹86.38 crore in Q2 FY26.
What was NTPC Green Energy's EPS in Q2 FY27?
Basic earnings per share were ₹0.16, against ₹0.10 in Q2 FY26.
How did NTPC Green Energy shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.3% from the previous close; the median Power Generation stock moved +2.0%.
When did NTPC Green Energy announce its Q2 FY27 results?
On 30 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval And Consideration Of Unaudited Financial Results Of The Company For The Half Year And The Quarter Ended On 30Th September 2026. (BSE, 22 October 2026) · PDF
- Outcome of Board Meeting (NSE, 30 October 2026) · PDF
- General Updates (NSE, 30 October 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.
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