NTPC Green Energy Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showing mixed performance across standalone and consolidated operations. The renewable energy subsidiary of NTPC Limited reported these results following board approval on January 29, 2026.

Standalone Financial Performance

The company's standalone operations showed varied results for the third quarter of FY26. While revenue remained relatively stable, profitability declined compared to the previous year.

For the nine-month period, standalone performance showed improvement with profit after tax increasing to ₹311.53 crore from ₹284.14 crore in the corresponding period of the previous year, representing a growth of 9.65%. Nine-month revenue from operations declined marginally to ₹1,467.65 crore from ₹1,473.90 crore.

Consolidated Financial Results

The consolidated results presented a different picture, with the company demonstrating stronger operational scale but facing profitability challenges.

The consolidated nine-month results showed revenue growth to ₹1,945.79 crore from ₹1,587.37 crore, while profit after tax increased to ₹324.18 crore from ₹240.91 crore.

Key Financial Metrics and Ratios

The company's financial health indicators showed mixed trends across various parameters:

Debenture Issuance and Capital Structure

During Q3FY26, NTPC Green Energy issued unsecured, non-cumulative, redeemable, taxable, non-convertible debentures Series 1 worth ₹1,500 crore through private placement. The debentures were listed on the National Stock Exchange on November 12, 2025. The funds are designated for financing capital expenditure, refinancing existing capital expenditure, extending financing to subsidiaries and joint ventures through inter-corporate loans, and general corporate purposes.

Subsidiary and Joint Venture Portfolio

The consolidated results include six subsidiary companies with varying ownership percentages ranging from 51% to 100%, and four joint venture companies with 50% ownership each. The portfolio includes NTPC Renewable Energy Ltd, Green Valley Renewable Energy Ltd, and several state-specific green energy entities.

Operational Highlights

Revenue from operations for the quarter and nine months included ₹12.18 crore and ₹40.76 crore respectively from consultancy, project management and supervision fees. The company continues its focus on renewable energy power generation, which remains its primary business segment.

The company also maintains a leasehold arrangement for 33 years for developing a Green Hydrogen Hub in Andhra Pradesh, with amortization expenses of ₹7.26 crore and ₹20.17 crore charged during the quarter and nine months respectively.

NTPC Green Energy Limited has announced the commercial operation of 130.47 MW capacity from its Khavda-I Solar PV Project in Gujarat, effective from 00:00 hours on January 29, 2026. The announcement was made through a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Details and Capacity Addition

The newly operational capacity represents the tenth part of the larger 1255 MW Khavda-I Solar PV Project located in Gujarat. This project operates under the CPSU scheme Phase-II Tranche-III and is managed by NTPC Renewable Energy Limited, which is a wholly owned subsidiary of NTPC Green Energy Limited.

Impact on Total Installed Capacity

The addition of this solar capacity has resulted in a significant increase in the company's overall installed capacity. The current commercial capacity of the NTPC Green Energy Limited Group stood at 8347.78 MW before this addition.

Regulatory Compliance

The announcement was made in compliance with regulatory requirements, with the company filing the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Manish Kumar, Company Secretary & Compliance Officer, and dated January 28, 2026.

This capacity addition represents another milestone in NTPC Green Energy Limited's renewable energy expansion strategy, contributing to India's growing solar power infrastructure through its subsidiary operations.