New Delhi, January 29, 2026 – NTPC Green Energy Limited (NGEL), the dedicated renewable energy subsidiary of NTPC Limited, announced its unaudited standalone and consolidated financial results for the third quarter and nine months of FY 2025-26.
Standalone Performance Snapshot (Q3 FY26 vs. Q3 FY25):
The company reported a standalone Profit After Tax (PAT) of ₹60.27 crore for the quarter ended December 31, 2025, compared to ₹89.42 crore in the same period last year. Revenue from operations stood at ₹446.81 crore (Q3 FY25: ₹460.86 crore). Earnings Per Share (EPS) were ₹0.07.
For the nine-month period (Apr-Dec 2025), standalone PAT was ₹311.53 crore on revenue of ₹1,467.65 crore.
Consolidated Performance (Q3 FY26):
On a consolidated basis, which includes its subsidiaries, NGEL reported a PAT of ₹17.32 crore for the quarter. Revenue from consolidated operations was significantly higher at ₹653.29 crore, reflecting the scale of its group activities. PAT attributable to the parent company's owners was ₹17.48 crore.
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Key Operational and Strategic Highlights:
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Fundraising via Debentures: During the quarter, NGEL privately placed and listed ₹1,500 crore worth of Non-Convertible Debentures (NCDs) on the National Stock Exchange (November 12, 2025). The proceeds are designated for capital expenditure, including funding for its subsidiaries and joint ventures.
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IPO Proceeds Fully Deployed: The company confirmed that the entire ₹10,000 crore raised through its Initial Public Offering (IPO) in the previous fiscal year has been utilized as of September 30, 2025.
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Green Hydrogen Hub Development: NGEL has begun amortizing costs related to the leasehold land for its Green Hydrogen Hub in Andhra Pradesh. An expense of ₹7.26 crore for the quarter (₹20.17 crore for nine months) has been charged and transferred to Capital Work-in-Progress, even as the final project plan is being formulated. The auditors highlighted this as an "Emphasis of Matter" in their review report.
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Impact of New Labour Codes: The company has incorporated the assessed financial impact of the newly effective Labour Codes into its results, noting it is not material based on current information. Final accounting will be confirmed once all supporting government rules are notified.
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Governance and Compliance:
The results were reviewed by the Audit Committee and approved by the Board of Directors on January 29, 2026. The statutory auditors have issued a clean limited review report. The company also submitted a 'nil' deviation report regarding the use of proceeds from its recent NCD issue, confirming adherence to stated objectives.
About NTPC Green Energy Limited (NGEL):
NGEL, a wholly-owned subsidiary of NTPC Ltd., is the primary entity driving NTPC's foray into renewable energy and green hydrogen projects. It focuses on developing a robust portfolio of clean energy assets to support India's energy transition goals.