NTPC Green Energy LimitedQ2 FY27 Results & Financial Update
NTPC Green Energy Limited: Q2 FY27 consolidated results and company financials – revenue ₹938.16 Cr, PAT ₹137.50 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore NTPC Green Energy Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
NTPC Green Energy Limited recorded consolidated revenue from operations of INR 938.16 crore for the quarter ended September 30, 2026, alongside total income of INR 1,000.76 crore.
Profit before tax for Q2 FY27 stood at INR 124.73 crore, while consolidated profit after tax was recorded at INR 137.50 crore, yielding basic and diluted earnings per share of INR 0.16.
Sequentially, operating revenue decreased by 15.24 percent compared to INR 1106.86 crore reported in the preceding quarter ended June 30, 2026.
Profit after tax also contracted quarter-on-quarter by 54.89 percent from INR 304.84 crore in Q1 FY27, largely influenced by the movement in revenue and periodic cost adjustments.
Total income for the quarter included other income of INR 62.60 crore, representing a notable sequential expansion from INR 14.79 crore in the previous quarter.
The company's financial results reflect capital-intensive asset operations, with quarterly finance costs registered at INR 377.99 crore and depreciation and amortisation expenses standing at INR 389.57 crore.
The company posted a profit before tax (PBT) of INR 124.73 crore and a net profit (PAT) of INR 137.50 crore for the second quarter of fiscal year 2027.
Earnings per share (EPS) stood at INR 0.16 for the quarter under review, reflecting the profitability generated across operational asset portfolios.
01 · Business model
What does NTPC Green Energy do?
NTPC Green Energy Limited operates as a major renewable energy entity focusing on the development, acquisition, and management of green energy assets in India.
The company generates and supplies electricity derived from renewable sources such as solar and wind power, catering to utilities, industrial buyers, and commercial offtakers across the country.
As part of its operational framework, the business incurs significant capital expenditures and depreciation relating to large-scale renewable generation infrastructure, alongside financing costs tied to project debt.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹938.16 Cr | ₹1,106.86 Cr |
| Total income | ₹1,000.76 Cr | ₹1,121.65 Cr |
| Profit before tax | ₹124.73 Cr | ₹339.28 Cr |
| Profit after tax | ₹137.50 Cr | ₹304.84 Cr |
| EPS | ₹0.16 | ₹0.36 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 14.7% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 13.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹62.60 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Generated consolidated revenue from operations of INR 938.16 crore during Q2 FY27, reflecting lower billing volumes or offtake compared to the INR 1106.86 crore recorded in Q1 FY27.
Other income expanded to INR 62.60 crore during the quarter compared to INR 14.79 crore in the preceding period, lifting total income to INR 1000.76 crore.
Revenue is primarily driven by electricity generation from operational solar and wind energy assets, billed under long-term contractual arrangements.
What drove margins
High capital asset intensity resulted in quarterly depreciation and amortisation expenses of INR 389.57 crore and finance costs of INR 377.99 crore, which form a substantial baseline against operating earnings.
Tax expenses for the quarter were recorded at INR 28.10 crore on a profit before tax of INR 124.73 crore.
Depreciation and finance costs remain substantial drivers of the cost structure, reflecting capital expenditures on renewable energy infrastructure.
04 · Items worth noticing
The line items that can distort a quick read
The company recorded provisions of INR 1.04 crore during the quarter ended September 30, 2026.
The company recorded provisions of INR 1.04 crore during the quarter.
05 · Previous-quarter changes
What changed since the previous quarter
Operating revenue decreased by 15.24 percent quarter-on-quarter from INR 1106.86 crore in Q1 FY27 to INR 938.16 crore in Q2 FY27.
Profit after tax declined by 54.89 percent sequentially from INR 304.84 crore in the preceding quarter to INR 137.50 crore in the current quarter.
Revenue from operations decreased from INR 1,106.86 crore in Q1 FY27 to INR 938.16 crore in Q2 FY27.
Net profit decreased from INR 304.84 crore in Q1 FY27 to INR 137.50 crore in Q2 FY27.
06 · Key Q&A
The quarter, answered directly
What does NTPC Green Energy do?
NTPC Green Energy Limited operates as a major renewable energy entity focusing on the development, acquisition, and management of green energy assets in India.
What is the clearest takeaway from Q2 FY27?
NTPC Green Energy Limited recorded consolidated revenue from operations of INR 938.16 crore for the quarter ended September 30, 2026, alongside total income of INR 1,000.76 crore.
What drove revenue or demand?
Generated consolidated revenue from operations of INR 938.16 crore during Q2 FY27, reflecting lower billing volumes or offtake compared to the INR 1106.86 crore recorded in Q1 FY27.
What mattered most for margins or profitability?
High capital asset intensity resulted in quarterly depreciation and amortisation expenses of INR 389.57 crore and finance costs of INR 377.99 crore, which form a substantial baseline against operating earnings.
What should the next disclosure help confirm?
Monitor subsequent quarterly disclosures for revenue normalisation and trends in capacity utilisation across operational renewable assets.
07 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
08 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Operational Performance: Monitor subsequent quarterly disclosures for revenue normalisation and trends in capacity utilisation across operational renewable assets.
- 02
Cost Servicing: Track the trajectory of finance costs and depreciation relative to ongoing capital expenditure and newly commissioned generation capacity.
- 03
Subsequent Quarterly Filings: Track upcoming financial disclosures to evaluate revenue and net profit trends across future quarters of fiscal year 2027.
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