NTPC Q4 Results: Profit rises 15%, beats estimates despite revenue decline

NTPC reported a better-than-expected standalone profit for the fourth quarter of FY26 on May23, even as revenue and operating earnings declined from a year earlier amid softer realisations and margin pressure.

The state-run power major posted a net profit of ₹8,747.3 crore for the March quarter, up 15% year-on-year from ₹7,611 crore and sharply ahead of the CNBC-TV18 poll estimate of ₹6,241 crore.

Revenue from operations declined 13.5% to ₹43,110.7 crore from ₹49,833 crore a year ago, missing Street expectations of ₹48,390 crore.

EBITDA fell 15.2% year-on-year to ₹12,504 crore compared with ₹14,754 crore in the corresponding quarter last year, while EBITDA margin slipped to 29% from 30%. The margin figure was broadly in line with analyst expectations.

Ahead of the earnings announcement, NTPC shares closed marginally higher at ₹389 on the NSE on Friday.

The board recommended a final dividend of ₹3.50 per equity share for FY26. This comes in addition to the two interim dividends of ₹2.75 per share each already paid during the financial year, taking the total dividend payout for FY26 to ₹9 per share.

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The earnings announcement comes a day after subsidiary NTPC Green Energy reported its Q4FY26 results. NTPC Green Energy posted a 15.6% decline in net profit to ₹197.1 crore, although revenue surged 46.7% year-on-year to ₹912.6 crore.

Its board also approved a ₹5,000 crore fundraising plan and cleared the formation of a new renewable energy joint venture with CtrlS Datacenters to develop green power projects.