NTPC Limited Earnings Summary — Q1 FY2027
NTPC Reports Strong Q1 Performance with 11.9% PAT Growth and Record Revenue
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 4 consecutive quarters.
- Revenue of ₹50,741 Cr is 7.8% higher year-on-year.
- Revenue has compounded at 2.9% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹6,721 Cr is 11.8% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 3.9% annualised across the period.
- Operating margin stands at 32.0% in Q1 FY2027.
- Operating margin expanded by 526 bps year-on-year.
- Over the last two years operating margin has expanded by 430 bps.
- PBT margin is 18.1%.
- Expense growth of 0.1% remained below revenue growth of 7.8%.
- Operating profit of ₹16,231 Cr is 29.0% higher year-on-year.
- Operating leverage continues to improve.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 71/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 50,741 | 49,686 | 45,846 | 44,786 | 47,064 | 49,834 | 45,069 | 44,706 | 48,529 | 47,628 |
| Expenses | Stable | 34,510 | 41,181 | 31,276 | 31,970 | 34,485 | 35,080 | 31,729 | 33,041 | 35,091 | 33,638 |
| Operating Profit | Accelerating | 16,231 | 8,505 | 14,570 | 12,816 | 12,579 | 14,754 | 13,341 | 11,665 | 13,438 | 13,990 |
| Operating Margin | Accelerating | 32.0% | 17.1% | 31.8% | 28.6% | 26.7% | 29.6% | 29.6% | 26.1% | 27.7% | 29.4% |
| Other Income | Volatile | 1,549 | 1,918 | 1,738 | 2,734 | 3,241 | 4,180 | 986 | 3,218 | 1,187 | 1,400 |
| Interest | Stable | 3,386 | 3,737 | 3,164 | 3,432 | 3,468 | 3,648 | 2,764 | 3,621 | 3,136 | 2,955 |
| Depreciation | Stable | 5,234 | 5,134 | 5,093 | 4,816 | 4,587 | 4,663 | 4,318 | 4,216 | 4,204 | 4,271 |
| Profit Before Tax | Volatile | 9,160 | 1,553 | 8,050 | 7,301 | 7,765 | 10,623 | 7,245 | 7,046 | 7,284 | 8,164 |
| Tax | Volatile | 2,263 | -9,062 | 2,453 | 2,076 | 1,657 | 2,726 | 2,075 | 1,666 | 1,778 | 1,674 |
| Net Profit | Accelerating | 6,721 | 10,486 | 5,489 | 5,067 | 6,011 | 7,611 | 5,063 | 5,275 | 5,474 | 6,169 |
| Net Margin | Accelerating | 13.3% | 21.1% | 12.0% | 11.3% | 12.8% | 15.3% | 11.2% | 11.8% | 11.3% | 12.9% |
Key Takeaways
- Consolidated revenue stood at ₹50,740.96 crore for the quarter, a 7.8% increase compared to ₹47,064.35 crore in the prior-year period.
- The Generation segment continues to dominate, contributing ₹42,912.01 crore to standalone revenue, up from ₹41,777.89 crore YoY.
- Coal mining business transfer (NTPC Mining Ltd) was significantly advanced, with total equity in NML reaching ₹3,427.61 crore as of June 30, 2026.
- Energy charges recognized stood at ₹23,211.42 crore, showing a slight decrease YoY reflecting cooling fuel cost pressures or efficiency gains.
- Debt-to-equity ratio remains stable at 1.06 (Standalone), indicating managed leverage despite significant ongoing capital expenditure.
- The group reported a segment profit of ₹10,505.49 crore from Generation activities, maintaining robust operational profitability.
- Transition to the new tax regime resulted in significant remeasurements of deferred tax balances in previous quarters, normalizing this period.
Management Guidance
Management is maintaining an aggressive focus on 'NTPC 2.0', prioritizing renewable energy capacity additions and green hydrogen projects. The company aims to sustain its dominant 22% national power generation share through regulated cost-plus models ensure steady ROE.
Sentiment Shift
Stable
Performance remains consistent with historical utility trends, showing steady single-digit revenue growth and double-digit profit improvement year-on-year.
Outlook
The outlook remains positive as the company leverages its strong cash flows from thermal generation to fund its pivot toward green energy. Operational metrics like Plant Availability remained healthy for the quarter.
From the Annual Report (Key Quotes)
“This submission shall also be treated as the Integrated Filing (Financial) for the aforesaid period.”
“Capacity charges for the quarter ended 30 June 2026 have been provisionally recognized considering the provisions of CERC Tariff Regulations.”
“The Company is also in compliance with all the covenants, in respect of all listed non-convertible debt securities.”
Official Quarterly Documents
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This summary is AI-generated from NTPC Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.