NTPC Green Energy (NGEL) reported a net profit of ₹863.8 million (~$9.7 million) in the second quarter (Q2) of the financial year (FY) 2026, a 135% rise year-over-year (YoY) from ₹366.9 million (~$4 million).

It reported a total income of ₹6.57 billion (~$74 million), up 25% YoY from ₹5.25 billion (~$59 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at ₹5.3 billion (~$59.7 million), a 26% jump from ₹4.2 billion (~$47 million) from the same quarter of the previous year.

NGEL’s earnings per share (EPS) came in at ₹0.1 (~$0.001) in Q2 FY 2026, rising from ₹0.06(~$0.0006) in Q2 FY 2025

1H Results

In the first half of FY 2026, NGEL’s net profit rose 75% to ₹3.07 billion (~$34.6 million) from ₹1.75 billion (~$19.7 million).

Its revenue grew 24%  to ₹14.08 billion (~$158.8 million) from ₹11.33 billion (~$127.8 million) during the same period of last year.

The EBITDA in 1H FY 2026 was ₹11.33 billion (~$127.8 million), a 21% YoY increase from ₹9.33 billion (~$105 million).

The company reported an EPS of ₹0.37 (~$0.004), compared to an EPS of ₹0.3 (~$0.003) in 1H FY 2025.

Business Highlights

Currently, NGEL has a total portfolio of over 32 GW of renewable energy projects across India.

These projects include 4,113 MW of projects acquired by ONGPL, a joint venture between NGEL and OGL through the acquisition of Ayana Renewable Power.

Its operational capacity of solar projects increased to 6,707 MW solar projects as of 1H FY 2026, a 108% YoY jump from 3,220 MW.

NGEL has an operational capacity of 701 MW of wind projects.

Its solar projects generated 5846 MUs of solar energy and 931 MUs of wind energy in 1H FY 2026.

The company has 15,680 MW of projects that have been contracted and awarded.

It also has 9,100 MW of projects in the pipeline.

Partnerships

NGEL signed a joint venture with Chhattisgarh State Power Generation Company for the development of 2 GW of renewable energy projects.

It also partnered with several state-owned entities. It signed a partnership with Andhra Pradesh under AP NGEL Harit Amrit to develop up to 25 GW of renewable energy projects,10 GW of pumped storage projects, and green hydrogen projects.

It set up a joint venture with Maharashtra State Power Generation Company to develop renewable energy parks with a capacity of up to 2.5 GW.

The company is establishing 25 GW of renewable energy and green hydrogen parks in Rajasthan, as well as renewable energy parks and projects in Uttar Pradesh, totaling up to 2 GW.

In Q4 of FY 2025, NGEL reported a net profit of ₹2.33 billion (~$27.1 million),  a 187% YoY increase from ₹809.5 million (~$9.4 million).