NTPC Green Energy Q1 net profit rises 58% to ₹220 crore, revenue advances 18%

NTPC Green Energy, the renewable power generation company, on Monday, July 28, reported consolidated net profit of ₹220 crore in the first quarter of current financial year marking an increase of 58% from ₹139 crore in the same period last year.

The company's revenue from operations advanced 18% to ₹680 crore in April-June period from ₹578 crore in the year-ago period.

NTPC Green reported stable performance in June quarter as its operating profit also known as earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed 18% to ₹604 crore compared with ₹513 crore in the year-ago period.

The company's total expenses rose 16% to ₹493 crore.

Earlier this month, Union Cabinet approved state-run power utility NTPC Ltd’s plan to invest up to ₹20,000 crore in its renewable energy subsidiary to accelerate green capacity additions.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, granted enhanced delegation of power to NTPC, allowing the Maharatna company to increase its investment in NTPC Green Energy Ltd (NGEL) beyond the earlier limit of ₹7,500 crore.

The approval will enable NGEL, which currently operates 6 GW of renewable capacity with 26 GW under development, to expand its portfolio to 60 GW by 2032.

NGEL’s growth is expected to occur both organically through its wholly owned subsidiary NTPC Renewable Energy Ltd (NREL) and via joint ventures with state governments and other central public sector undertakings.

During Financial Year 2024-25, the Company completed its Initial Public Offering (IPO) comprising a fresh Issuance of 92,63,29,669 equity shares with a face value of ₹10 each. These shares were offered at an issue price of ₹103 per share, which Included 87,20,910 equity shares issued to eligible employees at a discounted Issue price of ₹103 per share. The IPO raised a total of ₹10,000 crore and the Company's equity shares were subsequently listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on November 27, 2024.

NTPC Green Energy shares ended 1.23% higher at ₹107.15 ahead of its earnings announcement.