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Informist, Saturday, May 23, 2026

 

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--NTPC Jan-Mar net profit INR 87.47 bln 
--Analysts saw NTPC Jan-Mar net profit at INR 62.78 bln 
--NTPC Jan-Mar revenue INR 431.11 bln 
--Analysts saw NTPC Jan-Mar revenue at INR 475.60 bln 
--NTPC Jan-Mar net profit INR 87.47 bln vs INR 57.78 bln year ago 
--NTPC Jan-Mar revenue INR 431.11 bln vs INR 439.04 bln year ago 
--NTPC to pay INR 3.50 per share final dividend 
--NTPC FY26 net profit INR 231.62 bln vs INR 196.49 bln year ago 
--NTPC FY26 revenue INR 1.65 tln vs INR 1.70 tln year ago 
--NTPC Jan-Mar generation segment revenue INR 423.19 bln vs INR 438.77 bln
--NTPC got tax write-back of INR 87.37 bln Q4 vs tax outgo of INR 23.20 bln
--NTPC group capex INR 490.68 bln in FY26 vs INR 446.36 bln year ago 
--NTPC FY26 consol regulated equity INR 1.20 tln vs INR 1.09 tln yr ago 
--NTPC FY26 standalone regulated equity INR 946.3 bln vs INR 909.0 bln yr ago 
--NTPC Jan-Mar operating margin 24.12% vs 21.36% year ago 
--NTPC: Coal station plant load factor 76.16% vs 81.24% year ago

 

By Simran Rede

 

MUMBAI – NTPC Ltd. surprised the Street with a substantial jump in its net profit for the March quarter on the back of a tax write-back during the quarter against a tax outgo in the year-ago quarter. Its net profit growth for the period was the highest in 20 quarters despite the revenue from operations falling for the fourth consecutive quarter. The company's bottom line beat the Street's view by a wide margin, although its top line fell short of the estimate.

 

For the quarter under review, NTPC reported an over 51% rise in its net profit to INR 87.47 billion. This was the highest absolute net profit in over 46 quarters. Of this, the company received a tax write-back of INR 87.37 billion, which accounted for almost the entire net profit. Analysts had estimated the company to report a net profit of INR 62.78 billion. 

 

The company earned a revenue of INR 431.11 billion in Jan-Mar from its core operations, below the projections of INR 475.60 billion. On a year-on-year basis, revenue fell nearly 2%.  

 

The country's biggest power utility firm's operating margin for the reporting quarter improved 276 basis points on year to 24.12%. The total income for the reporting quarter was INR 440.30 billion, down 4% on year. Its other income for the quarter also fell almost 52% on year to INR 9.19 billion.

 

For the March quarter, the company's generation segment reported a revenue of INR 423.19 billion, down over 3% on year from INR 438.77 billion. The company earned a revenue of INR 24.15 billion from its other segments, which was more than 18% lower than the revenue earned in the corresponding quarter a year ago.

 

The company's total expenses for the March quarter fell over 6% on year to INR 373.25 billion. This was mainly on the back of an over 13% year-on-year fall in its fuel costs--which accounted for 56% of the total expenses--to INR 209.08 billion. Sequentially, however, total expenses rose 6.5%. 

 

The company's other expenses and costs related to depreciation and amortisation rose 20% and 0.5% on a year-on-year basis to INR 69.72 billion and INR 40.51 billion, respectively. Costs related to electricity purchased for trading for the quarter were INR 10.14 billion, down over 3% from INR 10.49 billion reported a year ago. Its finance costs for the quarter fell nearly 14% on year to INR 26.67 billion.

 

NTPC's coal station plant load factor was 76.16% in Jan-Mar, lower than 81.24% a year ago. The load factor for the company's solar plant was 25.05% in the March quarter, up from 24.54% in the year-ago quarter. For hydro plant, the metric rose to 14.17% in Jan-Mar from 13.92% a year ago. On the other hand, the plant load factor for its gas units declined to 1.15% from 2.14% in the year-ago quarter.

 

Its regulated equity for 2025-26 (Apr-Mar) rose 10% to INR 1.20 trillion on a consolidated basis and increased 4% on year to INR 946.3 billion on a standalone basis. The public sector undertaking added 1.38 gigawatts of installed standalone capacity in FY26 and added 9.62 GW of installed group capacity. The company incurred a group capital expenditure of INR 490.68 billion in FY26, higher than INR 446.36 billion incurred a year ago. 

 

The company's average tariff was INR 4.82 per kilowatt-hour for FY26, up from INR 4.70 per kilowatt-hour in FY25. The fixed charges rose to INR 1.86 per kilowatt-hour in FY26 from INR 1.69 per kilowatt-hour a year ago. The company's domestic coal supply position was 63.71 million tonnes in the reporting quarter, down 6.4% on year. There were no coal imports by the company in the March quarter.

 

For the full financial year FY26, the company reported a net profit of INR 231.62 billion, up around 18% on year. Its revenue for the same period fell around 3% on year to INR 1.65 trillion.

 

NTPC declared INR 3.50 per share as a final dividend. Friday, the stock closed flat at INR 388.65 on the National Stock Exchange ahead of its March quarter earnings.  End

 

Edited by Vandana Hingorani

 

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