NTPC Q2 FY27 Results: Consolidated Net Profit ₹7,351 Crore on Total Income of ₹54,716 Crore
- Earnings
- power generation
Reviewed byRachit TripathiBlacklitt Research
NTPC (NSE: NTPC) reported total income of ₹54,715.69 crore and net profit of ₹7,350.79 crore on a consolidated basis for the quarter ended 30 Sep 2026, and ₹46,841.54 crore and ₹5,319.94 crore standalone, it said in a filing on 31 Oct 2026. The Board also declared a first interim dividend of ₹3.00 per share.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹54,715.69 crore, up 20.9% YoY and 7.0% QoQ
- Net profit: ₹7,350.79 crore, up 40.7% YoY and 6.6% QoQ
- EPS: ₹7.25 basic, against ₹5.23 a year before
- Finance costs: ₹4,086.43 crore, up 19.1% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹46,841.54 crore, up 15.1% YoY and 5.2% QoQ
- Net profit: ₹5,319.94 crore, up 14.3% YoY and down 0.4% QoQ
- EPS: ₹5.49 basic, against ₹4.80 a year before
- Interim dividend: ₹3.00 per share, record date 6 Nov 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 54,715.69 | 45,262.10 | +20.9% | 51,141.51 | +7.0% | |
| Revenue from operations | 54,269.95 | 44,784.05 | +21.2% | 50,740.96 | +7.0% |
| Other income | 445.74 | 478.05 | -6.8% | 400.55 | +11.3% |
| 7,350.79 | 5,225.30 | +40.7% | 6,896.44 | +6.6% | |
| Profit before tax | 7,281.43 | 5,624.17 | +29.5% | 8,639.63 | -15.7% |
| Finance costs | 4,086.43 | 3,432.46 | +19.1% | 3,386.04 | +20.7% |
| Depreciation | 5,329.78 | 4,815.50 | +10.7% | 5,233.70 | +1.8% |
| Tax expense | 1,866.84 | 2,076.02 | -10.1% | 2,263.25 | -17.5% |
| Net profit margin | 13.43% | 11.54% | +1.89 pp | 13.49% | -0.05 pp |
| EPS, basic (₹) | 7.25 | 5.23 | +38.6% | 6.93 | +4.6% |
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.
Net profit grew faster than total income over the year: profit rose 40.7% against 20.9% for total income, and profit before tax rose 29.5%. The tax expense fell 10.1% to ₹1,866.84 crore, which the table carries. Consolidated profit for the period is ₹2,030.85 crore above the standalone figure of ₹5,319.94 crore.
Profit attributable to owners of the parent is ₹7,029.56 crore, against ₹5,066.78 crore a year before, and the filing attributes the rest to non-controlling interests.
Finance costs rose 19.1% to ₹4,086.43 crore, equal to 7.5% of total income. Other income of ₹445.74 crore is 0.8% of total income and fell 6.8% a year earlier while revenue from operations rose 21.2%. The filing says the group's sale of energy through trading, gross, was ₹3,172.14 crore in the quarter, of which export sales to Nepal and Bangladesh by NWN Ltd were ₹1,705.51 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 46,841.54 | 40,689.36 | +15.1% | 44,512.41 | +5.2% | |
| Revenue from operations | 45,752.00 | 39,164.82 | +16.8% | 43,831.86 | +4.4% |
| Other income | 1,089.54 | 1,524.54 | -28.5% | 680.55 | +60.1% |
| 5,319.94 | 4,653.33 | +14.3% | 5,342.36 | -0.4% | |
| Profit before tax | 5,009.55 | 4,887.07 | +2.5% | 6,878.80 | -27.2% |
| Finance costs | 2,913.59 | 2,661.76 | +9.5% | 2,359.15 | +23.5% |
| Depreciation | 4,057.05 | 3,993.42 | +1.6% | 4,071.47 | -0.4% |
| Tax expense | 1,428.13 | 1,643.74 | -13.1% | 1,798.06 | -20.6% |
| Net profit margin | 11.36% | 11.44% | -0.08 pp | 12.00% | -0.64 pp |
| EPS, basic (₹) | 5.49 | 4.80 | +14.4% | 5.51 | -0.4% |
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 net profit rose 14.3% YoY, slower than total income (up 15.1%), while profit before tax rose only 2.5%. Revenue from operations rose 16.8% and other income fell 28.5%. Compared with the previous quarter, profit before tax fell 27.2% and net profit fell 0.4% while total income rose 5.2%.
The filing records a net movement in regulatory deferral account balances, net of tax, of ₹1,738.52 crore in the quarter. The filing states that capacity charges of ₹14,711.58 crore were provisionally billed under CERC Tariff Regulations 2024, with billing based on tariff norms pending final orders. It also records energy charges of ₹1,365.82 crore for earlier years from grade slippages and other adjustments.
Finance costs rose 23.5% from the previous quarter to ₹2,913.59 crore, equal to 6.2% of total income, and 9.5% from a year before.
Inference
The filing records the Board's approval of the results and a first interim dividend of ₹3.00 per share on face value of ₹10, with a record date of 6 Nov 2026 and payment from 25 Nov 2026. The final dividend of ₹3.50 per share for FY 2025-26 was paid in September 2026. The statutory auditors issued unmodified review conclusions on both sets of results.
The filing states consolidated net worth of ₹2,13,296.23 crore and consolidated paid-up debt capital of ₹2,75,633.68 crore at 30 Sep 2026. The NTPC Mining Limited balance consideration of ₹8,651.86 crore is payable by 30 Sep 2027 with interest. The filing does not say how that balance will be funded, when the NTPC (Mauritius) Energy Limited subsidiary will receive any investment, or why the interim dividend rate differs from the final dividend, and the text read does not answer these.
Filed with BSE on . Reference: Original filing (PDF)
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