NTPC Green Energy Q2 FY27 Results: Consolidated Net Profit ₹138 Crore on Total Income of ₹1,001 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Revenue from operations rose 53.2% year on year to ₹938.16 crore, faster than other income, which rose 40.9% to ₹62.60 crore. Other income is 6.3% of consolidated total income for the quarter, so the bulk of the total is revenue from operations.

Finance costs of ₹377.99 crore are 37.8% of consolidated total income, up from ₹206.93 crore a year earlier. Depreciation rose 49.1% to ₹389.57 crore over the same period, so the two charges together absorb a large share of the income.

The consolidated figures include a share of profit of joint ventures of ₹40.87 crore, which the filing reports separately from the group's own profit before tax of ₹124.73 crore.

Net profit of ₹137.50 crore is 14.7% of consolidated revenue from operations on the filing's own margin line, against 27.5% in the previous quarter. The filing does not give the reason for the lower margin.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone total income rose 20.9% year on year to ₹610.42 crore, but the mix changed: revenue from operations grew 11.9% to ₹515.31 crore while other income rose 114.2% to ₹95.11 crore. Other income is 15.6% of standalone total income and 53.0% of standalone profit before tax of ₹179.44 crore.

Profit before tax fell 13.0% from the previous quarter's ₹206.35 crore but rose 47.9% from a year earlier. Standalone tax expense of ₹43.63 crore is 24.3% of profit before tax. Standalone finance costs of ₹197.88 crore are 32.4% of total income, up 31.8% year on year.

The filing includes ₹7.77 crore of consultancy, project management and supervision fees within standalone revenue from operations, down from ₹8.58 crore a year earlier. The filing does not say why other income moved as it did.

Inference

The filing reports that the board approved the results on 30 Oct 2026 and that the statutory auditor issued limited review reports without modification. The auditor's report on the consolidated results notes that interim information of two subsidiaries and three joint ventures was not reviewed, and that the conclusion is not modified in respect of this.

The company raised ₹2,500 crore through a private placement of listed, non-convertible, unsecured debentures on 9 Jul 2026 and reports no deviation in the use of the funds. Standalone paid-up debt capital rose to ₹11,111.16 crore at 30 Sep 2026 from ₹8,921.62 crore at 31 Mar 2026. The company reports no default on loans or debt securities.

The filing does not say how the debenture proceeds will be used beyond the general corporate purposes it lists, or what the company expects for finance costs in the coming quarters.

Reference: Original filing (PDF)