Earnings Review
NTPC Q1 PAT beats view on lower expenses, higher revenue
This story was originally published at 22:15 IST on 24 July 2026
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--NTPC Apr-Jun net profit INR 53.42 bln
--Analysts saw NTPC Apr-Jun net profit at INR 52.54 bln
--NTPC Apr-Jun revenue INR 438.32 bln
--Analysts saw NTPC Apr-Jun revenue at INR 479.33 bln
--NTPC Apr-Jun net profit INR 53.42 bln vs INR 47.75 bln year ago
--NTPC Apr-Jun revenue INR 438.32 bln vs INR 425.72 bln year ago
--NTPC Apr-Jun operating margin 21.20% vs 20.22% year ago
--NTPC Apr-Jun generation segment revenue INR 429.12 bln vs INR 417.78 bln
--NTPC group capex INR 115.91 bln in Apr-Jun vs INR 112.60 bln year ago
--NTPC: Q1 consol regulated equity INR 1.22 tln vs INR 1.11 tln in year ago
--NTPC: Q1 standalone regulated equity INR 927.97 bln vs INR 923.44 bln YoY
--NTPC: Coal station plant load factor 76.71% vs 75.16% year ago
By Sunil Raghu
AHMEDABAD – NTPC Ltd. recorded a jump in net profit for the June quarter as lower expenses and a marginal rise in revenue boosted earnings. Net profit beat the Street view, aided by lower finance costs and other expenses. The company posted year-on-year growth in net profit for the ninth consecutive quarter. Revenue also grew on-year after declining for four consecutive quarters.
The state-owned power producer reported a near 12% year-on-year rise in its net profit to INR 53.42 billion in Apr-Jun. Analysts had estimated the company to report a net profit of INR 52.54 billion. The company earned revenue of INR 438.32 billion in Apr-Jun from its core operations, lower than the analysts' estimate of INR 479.33 billion. On a year-on-year basis, revenue rose nearly 3%.
The country's biggest power utility firm's operating margin for the reporting quarter improved 98 basis points on year to 21.2%. The total income for the reporting quarter rose 3% on year to INR 445.12 billion. Its other income for the quarter fell nearly 11% on year to INR 6.81 billion.
For the June quarter, the company's generation segment reported revenue of INR 429.12 billion, up over 3% on year from INR 417.78 billion. The company earned revenue of INR 18.55 billion from its other segments, which was nearly 48% lower than the revenue earned in the corresponding quarter a year ago.
The company's total expenses for the June quarter fell over 3% on year to INR 376.34 billion. This was supported by a nearly 17% year-on-year decline in finance costs to INR 23.6 billion, and a 22?ll in other expenses to INR 47.08 billion.
The company's fuel costs for the June quarter – which accounted for around 64% of the total expenses – grew less than 1% on-year to INR 240.8 billion. Sequentially, total expenses rose 1%. While, costs related to electricity purchased for trading for the quarter were INR 10.55 billion, up over 8% from INR 9.8 billion reported a year ago.
The company, on a standalone basis, added 196 megawatts of power capacity during the June quarter, taking its total installed capacity to 60,992 MW, as of Jun. 30. At the group level, it added 1,796 MW of power during the quarter, taking total installed capacity of the group to 90,904 MW. Of this, 820 MW is thermal power, 250 MW is hydro and 726 MW is renewable energy. The company also has 35,702 MW of projects under construction, with 16,401 MW in renewables, 15,720 MW in thermal and 3,582 MW in hydro power projects.
NTPC's coal station plant load factor was 76.71% in Apr-Jun, up from 75.16% a year ago. The load factor for the company's solar plant was 31.06% in the June quarter, up from 26.81% a year ago. For hydro plants, the metric fell to 30.92% in Apr-Jun from 59.50% a year ago. The plant load factor for its gas units declined to 5.29% from 11.08% in the year-ago quarter.
The company incurred a group capital expenditure of INR 115.91 billion in the June quarter, marginally higher than INR 112.60 billion a year ago.
The company's average tariff was INR 4.86 per kilowatt-hour for the June quarter, marginally down from INR 4.87 per kilowatt-hour a year ago. The fixed charges rose to INR 1.78 per kilowatt-hour in Apr-Jun from INR 1.75 per kilowatt-hour a year ago. The company's domestic coal supply position was 59.3 million tonnes in the reporting quarter, down 4% on year. There were no coal imports by the company in the June quarter.
Friday, the company's shares closed 0.4% lower at INR 347.20 on the National Stock Exchange. The company announced its quarterly earnings after market hours. End
End
Edited by Saji George Titus
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