NTPC Green Energy’s (NGEL) revenue rose 29.3% to ₹6.53 billion (~$71 million) in the third quarter of the financial year (FY) 2026, from ₹5.05 billion (~$54.9 million) a year ago.

Profit after tax (PAT) stood at ₹173 million (~$1.88 million), a 73.6% year-over-year (YoY) drop from ₹656 million (~$7.14 million).

Earnings before income, taxes, depreciation, and amortization (EBITDA) increased 33.8% YoY to ₹5.67 billion (~$61.68 million) from ₹4.24 billion (~$46.14 million) in the same quarter last year.

NGEL’s earnings per share (EPS) came in at ₹0.02 (~$0.0002) in Q3 FY 2026, compared to an EPS of ₹0.08 (~$0.0009) in Q3 FY 2025.

In Q2 FY 2026, NGEL reported a net profit of ₹863.8 million (~$9.7 million), a 135% rise YoY from ₹366.9 million (~$4 million).

9M Results

In the first nine months (9M) of FY 2026, NGEL posted a PAT of ₹3.24 billion (~$35.3 million), a 34.6% YoY jump from ₹2.41 billion (~$26.2 million).

Its revenue grew 22.6% to ₹19.46 billion (~$211.7 million) from ₹15.87 billion (~$172.7 million) during the same period of last year.

EPS stood at ₹0.39 (~$0.0042), compared with ₹0.37 (~$0.004) in the corresponding period last year.

NGEL currently has 34 commissioned projects and 38 more under execution. Its renewable energy installed capacity stands at 3.6 GW. The company is executing renewable and hydro projects with a combined capacity exceeding 11 GW, while an additional 20 GW of projects are in various stages of tendering.

Last year, NGEL issued unsecured non-convertible debentures of ₹15 billion (~$169.47 million) through private placement at a coupon of 7.01% per annum for a 10-year and one-day tenor, maturing on November 12, 2035.

The government allowed NTPC to invest up to ₹200 billion (~$2.18 billion) in its renewable energy subsidiaries, NGEL and NTPC Renewable Energy, as well as other joint ventures. The earlier investment cap was ₹75 billion (~$816 million).

Recently, NGEL commissioned 130.47 MW of the 1,255 MW Khavda-I Solar project in Gujarat under the central public sector undertaking program’s Phase-II, Tranche-III. After the latest commissioning, NTPC Green Energy’s commercial capacity stands at 8478.25 MW.