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NTPC Q2 Results: Profit Rises 38.7% to ₹7,030 Crore; ₹3 Dividend

NTPC Q2 results: consolidated profit rose 38.7% to ₹7,029.56 crore on 21.2% revenue growth; board declared ₹3 interim dividend, record date 6 November.

Isha Sharma
3 Nov 2026 · 5 min read

Power plant cooling towers, NTPC Q2 results

Government-owned NTPC on Saturday reported a 38.7% rise in its consolidated net profit attributable to shareholders, which stood at ₹7,029.56 crore for the July–September quarter, its NTPC Q2 results showed. It also announced a first interim dividend of ₹3 per share for FY27.

Its profit for the same period in the previous year was ₹5,066.78 crore. Revenue from operations rose 21.2% to ₹54,269.95 crore from ₹44,784.05 crore a year earlier, the company said in its exchange filing, as reported by PTI.

NTPC Q2 results: key numbers

Consolidated profit for the quarter, including non-controlling interests, stood at ₹7,350.79 crore, compared with ₹5,225.30 crore in Q2 FY26. Total income increased to ₹54,715.69 crore from ₹45,262.10 crore, and total expenses increased to ₹48,059.30 crore from ₹40,218.03 crore.

Fuel was the biggest expense for the company. The fuel cost increased to ₹28,628.19 crore from ₹23,062.34 crore last year.

Newer businesses also contributed to its top line. Revenue from solar power increased to ₹1,138.23 crore from ₹722.52 crore, while gross income from the sale of energy through trading went up to ₹3,172.14 crore from ₹2,655.43 crore.

On a standalone basis, NTPC net profit was ₹5,319.94 crore, up 14.3% from ₹4,653.33 crore. It was slightly lower than the previous quarter’s standalone profit of ₹5,342 crore. EPS was ₹5.49, compared with ₹5.51 in the previous quarter.

Standalone revenue from operations was ₹45,752 crore, against ₹43,832 crore in the previous quarter. Standalone profit for H1 FY27 rose to ₹10,662 crore from ₹9,428 crore, and revenue was ₹89,584 crore against ₹81,736 crore.

NTPC interim dividend and balance sheet

NTPC has declared an interim dividend of ₹3 per equity share, equivalent to 30% of the face value of ₹10. The company has fixed 6 November 2026 as the record date and will pay the dividend from 25 November 2026. The board met on 31 October to approve the results.

Net worth stood at ₹1,81,862 crore, and the debt-equity ratio was 1.04 as of 30 September 2026. The group’s gross fixed assets rose to ₹4,85,444 crore from ₹4,37,142 crore a year earlier.

These results come after the company reported strong operating numbers on 1 October. Power generation during the quarter was 12.93% higher at 117.9 billion units, against 104.4 billion units a year earlier. Coal dispatch rose 28.45% to 11.899 million tonnes.

Why the numbers matter for the power sector

NTPC is one of the largest power generation companies in India and is classified as a Maharatna company. It comes under the Ministry of Power and has an installed capacity of more than 91 GW, with over 35 GW under construction. It aims to reach 149 GW by 2032, including 60 GW of renewable energy.

Its performance is seen as a key indicator of the country’s power demand and of the move to cleaner power and storage. The group has a 16 GW pumped storage portfolio, with THDC’s 1 GW Tehri project operational. DPRs are being prepared for a further 15 GW of projects.

NTPC will install 5 GWh of battery storage at 15 of its thermal plants and one group company under the Viability Gap Funding scheme, with commissioning starting from June 2027. Its nuclear arm, NPUNL, has identified 30 potential sites for nuclear power plants in various states.

For investors, the quarter brings double-digit growth in consolidated earnings and a continued dividend payout. Higher fuel costs and the funding needs of its renewable, storage and nuclear plans are things to keep an eye on, given a debt-equity ratio just above one.

Markets got their first chance to react to the NTPC Q2 results on Monday, 2 November, and shareholders on the register as of 6 November will be eligible for the interim dividend. Readers can track other large-cap earnings, including Coal India’s Q2 results and dividend, in our latest business news section. Company disclosures are available on NTPC’s official website.

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Region: India

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Note: Fact & grammar check done — 59 corrections (Phrasly output restored to ₹/crore style; restored “attributable to shareholders”, “first” interim dividend, “coal dispatch”, “pumped storage portfolio”, “under construction” and “identified” sites; fixed tense/agreement/articles). Flags: (1) Consolidated profit headline uses ₹7,029.56 crore attributable to shareholders; Indian PSU headlined ₹7,350.79 crore (incl. non-controlling interests, +40.7%) — both stated with labels. (2) EBITDA margin omitted: Indian Masterminds says 24% (vs 26% YoY; CNBC-TV18 poll 29%), Indian PSU says 28.8% consolidated — basis unclear, verify against filing. (3) NTPC exchange filing PDF could not be opened; figures from PTI (Tribune) and Indian Masterminds; external link points to NTPC’s official website. (4) CMD not named — no executive quote available. (5) Operational data (generation, coal dispatch, capacity) from NTPC’s 1 October 2026 press release. Phrasly: humanised paragraph by paragraph (headings and the final links paragraph not sent).

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