NTPC Green Energy shares slid 1.8% to ₹82.44 on the NSE as investors digested the company’s Q2 earnings. The fall came after the firm disclosed a 56.2% year‑on‑year jump in net profit to ₹137.5 crore, eclipsing the Wall Street consensus of ₹112 crore. Revenue from operations surged 53.2% to ₹938.2 crore, up from ₹612.3 crore in the same quarter a year earlier, and the EBITDA margin climbed to 88.4% from 86.5% in Q2 FY26—well above the sector average of 75%. A note from ICICI Securities highlighted the margin expansion as a sign of strong cost discipline, noting that peers such as Adani Green and ReNew Energy have margins hovering around 70% this quarter.
The company also reported ₹3.16 crore in consultancy, project‑management and supervision fees for the September quarter, a sharp decline from ₹7.15 crore a year earlier, indicating a shift away from advisory work towards core generation revenue. The drop in fee income was partially offset by a 25% increase in wind‑farm generation sales, driven by new contracts signed in the last month. Analysts are watching the company’s renewable portfolio growth, with a 12% YoY expansion in installed capacity.
Market sentiment remains cautious; the stock is down 13.5% year‑to‑date and has slipped 11.8% in the last month, trading below the 50‑day moving average. Elliot Stockbrokers’ research note stated that the near‑term upside is limited until the company provides guidance on its debt‑reduction plan and upcoming capacity additions.
NTPC Green Energy is expected to report Q3 FY27 on November 30, 2026. Investors will be keen to see whether the company can sustain its margin trajectory and whether it will announce any new renewable projects or capital‑expenditure plans. The company has not issued forward guidance yet, but the consistent profit and revenue growth suggest a stable outlook for the next quarter.