NTPC Green Energy reported a total income of ₹5.81 billion (~$67.06 million) in the third quarter (Q3) of the financial year (FY) 2025, up 25% year-over-year (YoY).

The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter rose by 22% YoY to ₹5 billion (~$57.71 million).

Net profit grew 18% YoY to reach ₹656.1 million (~$7.57 million).

However, the Earnings Per Share (EPS) declined to ₹0.08 (~$0.00092) from ₹0.12 (~$0.0014) in the same period last year.

9M FY25

For the first nine months (9M) of FY25, NTPC Green reported a total income of ₹17.14 billion (~$197.87 million), reflecting a 15% YoY increase.

The company’s EBITDA for 9M FY25 grew 11% and stood at ₹14.83 billion (~$171.21 million).

Net profit saw an 8% decline to ₹2.41 billion (~$27.82 million).

The EPS for 9M FY25 was ₹0.37 (~$0.0043), compared to ₹0.55 (~$0.0063) in the same period of the previous year.

During the first nine months of FY25, NTPC Green added 550 MW of commercial renewable energy capacity to its portfolio. As of December 31, 2024, NTPC Green’s commercial capacity stood at 3,475 MW, up from 2,761 MW a year earlier. Additionally, 135 MW of renewable energy capacity has been added in Q4 FY25 to date.

At the earnings call with analysts, NTPC Green management said the expected capacity addition for FY25 is 3.08 GW. For FY26 and FY27, the targets are close to 5 GW and 8 GW, respectively.

Regarding power generation, NTPC Green produced 4,742 million units in 9M FY25, compared to 4,199 million units in 9M FY24, reflecting a 13% YoY increase. However, the capacity utilization factor for NTPC Green projects was 22.99%, slightly lower than 23.37% in the previous year, mainly due to lower global horizontal irradiance and an extended monsoon.

In FY25, NTPC Green successfully secured 2,200 MW through tariff-based competitive bidding. The company’s total contracted and awarded capacity increased by 63% YoY, rising from 8,550 MW as of December 31, 2023, to 13,921 MW by December 31, 2024.

NTPC Green was listed on stock exchanges on November 27, 2024, with its ₹100 billion (~$1.19 billion) initial public offering oversubscribed 2.42 times.