New Delh: NTPC Limited, India’s largest power generation utility and a Maharatna Central Public Sector Enterprise (CPSE), has reported strong financial performance for the first quarter of financial year 2026-27 (Q1 FY27).
According to the unaudited financial results for the quarter ended June 30, 2026, NTPC posted a standalone net profit of ₹5,342.36 crore, registering an increase of 11.89% year-on-year (YoY) compared with ₹4,774.68 crore in Q1 FY26.
On a consolidated basis, the company’s profit after tax (PAT) stood at ₹6,896.44 crore, marking a 12.90% YoY growth from ₹6,108.46 crore recorded during the same period last year.
NTPC Q1 FY27 Financial Highlights
NTPC delivered strong growth across key financial parameters during the quarter.
Key Highlights:
- Standalone Net Profit: ₹5,342.36 crore, up from ₹4,774.68 crore in Q1 FY26.
- Consolidated Net Profit: ₹6,896.44 crore, registering 12.90% YoY growth.
- Standalone Revenue from Operations: ₹43,831.86 crore, up 2.96% YoY.
- Consolidated Revenue from Operations: ₹50,740.96 crore, increasing 7.81% YoY.
- Standalone Operating Margin: 21.20%, compared with 20.22% in Q1 FY26.
- Standalone EPS: ₹5.51 including regulatory deferral account balances.
- Consolidated EPS: ₹6.93 including regulatory deferral account balances.
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Standalone Financial Performance of NTPC in Q1 FY27
NTPC’s standalone financial performance showed improvement across revenue and profitability indicators.
Standalone Results:
- Revenue from Operations: ₹43,831.86 crore
(Q1 FY26: ₹42,571.61 crore, growth of 2.96%) - Total Income: ₹44,512.41 crore
(Q1 FY26: ₹43,332.81 crore, growth of 2.72%) - Profit Before Tax (PBT): ₹6,824.31 crore
(Q1 FY26: ₹6,088.84 crore, growth of 12.08%) - Net Profit (PAT): ₹5,342.36 crore
(Q1 FY26: ₹4,774.68 crore, growth of 11.89%) - Operating Margin: 21.20%
- Net Profit Margin: 12.19%
The improvement in margins reflects better operational efficiency and sustained demand in the power sector.
Consolidated Financial Performance Shows Strong Growth
On a consolidated basis, including subsidiaries and other business operations, NTPC reported significant improvement during Q1 FY27.
Consolidated Results:
- Revenue from Operations: ₹50,740.96 crore
(Q1 FY26: ₹47,064.35 crore, growth of 7.81%) - Total Income: ₹51,141.51 crore
(Q1 FY26: ₹47,821.11 crore, growth of 6.94%) - Profit Before Tax: ₹8,596.32 crore
(Q1 FY26: ₹7,577.77 crore, growth of 13.44%) - Net Profit: ₹6,896.44 crore
(Q1 FY26: ₹6,108.46 crore, growth of 12.90%)
Segment-Wise Performance of NTPC
NTPC’s generation business remained the major contributor to revenue and profitability during the quarter.
Generation Segment
- Revenue: ₹42,912.01 crore
- Profit Before Tax (PBT): ₹8,098.10 crore
Others Segment
- Revenue: ₹1,855.39 crore
- Profit Before Tax (PBT): ₹756.63 crore
Total Segment Performance
- Total Revenue: ₹44,512.41 crore
- Total Profit Before Tax: ₹8,854.73 crore
Key Financial Ratios Reflect Stable Position
NTPC maintained a strong financial position during Q1 FY27.
Important Ratios:
- Debt-Equity Ratio: 1.06 compared with 1.10 in Q1 FY26.
- Debt Service Coverage Ratio: 1.28.
- Interest Service Coverage Ratio: 4.99 compared with 4.05 last year.
- Current Ratio: 1.04 compared with 0.99.
- Net Worth: ₹1,70,481.37 crore compared with ₹1,56,781.72 crore.
- Total Debt to Total Assets: 0.46.
- Inventory Turnover: 10.81 days.
- Debtors Turnover: 5.38 days.
Major Operational Developments During Q1 FY27
NTPC Mining Limited Completes Coal Business Transfer
NTPC Mining Limited (NML) acquired the remaining coal mining business of NTPC with effect from April 1, 2026.
The total purchase consideration for the transaction was ₹6,339.18 crore. The remaining payment amount of ₹8,651.86 crore is payable by NML by September 30, 2026.
CERC Tariff Regulations 2024 Impact
During Q1 FY27, NTPC provisionally billed:
- Capacity Charges: ₹15,012.68 crore
- Energy Charges: ₹23,675.73 crore
The billing was carried out under the Central Electricity Regulatory Commission (CERC) Tariff Regulations 2024.
New Subsidiaries Strengthen Business Expansion
NTPC continued expanding its business ecosystem with the incorporation of new entities.
Key developments include:
- NTPC (Mauritius) Energy Limited was incorporated on June 26, 2026.
- NTPC EDMC Waste Solutions Private Limited became a wholly-owned subsidiary after the exit of MCD.
NTPC Maintains Strong Security Cover for Debt Securities
The company maintained 100% or higher security cover for all secured listed non-convertible debt securities during the quarter, reflecting strong financial discipline and investor confidence.
Management Outlook and Future Growth
NTPC stated that the company continues to benefit from sustained electricity demand, improved operational efficiency and strong generation performance.
The company’s healthy margins and consistent financial growth highlight its strong execution capabilities in India’s power sector.
NTPC Stock Outlook After Q1 FY27 Results
The strong quarterly performance, including growth in standalone and consolidated profit, improved operating margins and stable financial indicators, may support positive investor sentiment towards NTPC shares.
About NTPC Limited
NTPC Limited is India’s largest power generation company and a Maharatna Central Public Sector Enterprise under the Ministry of Power. Established in 1975, the company is engaged in electricity generation through thermal, hydro, renewable and other energy sources. NTPC plays a key role in India’s energy security and is expanding its presence in renewable energy, coal mining and sustainable power solutions.
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