NTPC Q2 results, quarter to Sep 2026

NSE: NTPCBSE: 532555PowerLarge Cap

NTPC Limited · Formerly National Thermal Power Corporation · Face value ₹10 · Listed Nov 2004

₹316.25₹5.75 (1.85%)BSE ₹316.00

Share price at the NSE close on 30 Oct 2026. Previous close ₹310.50.

30 Oct: open ₹310.50, high ₹318.00, low ₹308.15

52-week range of traded prices to 30 Oct 2026

₹292.05Low, 23 Oct 2026₹414.40High, 27 Apr 2026

Market cap: ₹3,06,657 Cr20th largest listed
P/E: 10.32
P/B: 1.44
Dividend yield: 2.85%
ROE: 14.7%
ROCE: 8.2%
Debt to equity: 1.24
Volume, NSE: 1,54,52,17165.6% delivered

NTPC filed its Q2 results for the quarter to Sep 2026 on 31 Oct 2026 at 4:24 pm, consolidated: the company and its subsidiaries together.

Q2 results, quarter to Sep 2026

₹ crore.NTPC annual results and balance sheet

Revenue: ₹54,270 Cr+21.2% on a year ago · +7.0% on the quarter before
Operating profit: ₹15,627 Cr+21.9% on a year ago · −3.7% on the quarter before
Net profit: ₹7,351 Cr+40.7% on a year ago · +6.6% on the quarter before
Earnings per share: ₹7.25+38.6% on a year ago · +4.6% on the quarter before
Operating margin: 28.8%
Net margin: 13.5%

From revenue to net profit, ₹ crore

Revenue54,270
Materials and goods−28,628
Employee costs−1,812
Other expenses−8,203
Operating profit15,627
Depreciation−5,330
Other income+446
Finance costs−4,086
Profit before tax6,656
Joint ventures+625
Net profit7,351

NTPC results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Sep 2026. Results for the quarter to Dec 2026 are due by 14 Feb 2027, 45 days after it ends. Every company's dates are on the results calendar.Results filings and date

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit

Peak revenue ₹54,270 Cr, quarter to Sep 2026; lowest ₹42,820 Cr, quarter to Dec 2023

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Dec 2021Q3	Mar 2022	Jun 2022Q1	Sep 2022	Dec 2022Q3	Mar 2023	Jun 2023Q1	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024	Dec 2024Q3	Mar 2025Q4Filed 24 May	Jun 2025Q1	Sep 2025Q2Filed 30 Oct	Dec 2025Q3Filed 30 Jan	Mar 2026Q4Filed 23 May	Jun 2026Q1	Sep 2026Q2Filed 31 Oct
Revenue from operations	33,293	37,085	43,177	44,175	44,602	44,253	43,075	44,983	42,820	47,622	48,521	44,696	45,053	49,834	47,065	44,786	45,846	49,688	50,741	54,270
	22,281	25,659	32,381	33,246	30,124	32,311	30,220	32,303	31,458	33,427	34,504	33,041	31,386	35,080	34,485	31,970	31,276	34,367	34,510	38,643
Materials and goods bought	17,052	19,357	26,792	27,223	21,927	24,714	24,045	25,615	23,525	25,127	27,845	24,225	24,531	24,913	24,973	23,062	22,776	21,679	25,395	28,628
Employee costs	1,574	1,702	1,553	1,457	1,717	1,802	1,589	1,528	1,618	1,857	1,630	1,538	1,623	2,005	1,584	1,580	1,757	2,065	1,713	1,812
Other expenses	3,655	4,600	4,037	4,566	6,480	5,795	4,587	5,160	6,315	6,443	5,030	7,278	5,231	8,161	7,928	7,327	6,744	10,624	7,403	8,203
Operating profit before depreciation	11,012	11,426	10,796	10,929	14,478	11,942	12,855	12,680	11,362	14,195	14,017	11,655	13,667	14,754	12,580	12,816	14,570	15,320	16,231	15,627
Operating margin	33.1%	30.8%	25.0%	24.7%	32.5%	27.0%	29.8%	28.2%	26.5%	29.8%	28.9%	26.1%	30.3%	29.6%	26.7%	28.6%	31.8%	30.8%	32.0%	28.8%
Depreciation and amortisation	3,452	3,821	3,542	3,687	3,715	3,848	3,821	4,038	4,074	4,271	4,204	4,216	4,318	4,663	4,587	4,816	5,093	5,134	5,234	5,330
Other income	491	639	384	506	387	493	315	401	754	1,194	461	501	545	1,251	756	476	459	723	401	446
Finance costs	2,232	2,408	2,477	3,068	3,168	2,860	2,922	2,921	3,250	2,955	3,136	3,621	2,764	3,648	3,468	3,432	3,164	3,737	3,386	4,086
Share of profit of joint ventures and associates	–	–	–	–	–	–	–	–	–	211	–	–	–	–	–	–	–	–	–	–
One-off items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	5,819	5,836	5,161	4,681	7,982	5,727	6,426	6,123	4,792	8,164	7,138	4,321	7,130	7,694	5,281	5,044	6,772	7,173	8,011	6,656
	1,463	–	–	–	–	–	–	–	–	1,674	–	–	–	–	–	–	–	–	–	–
Current tax	1,111	–	–	–	–	–	–	–	–	1,159	–	–	–	–	–	–	–	–	–	–
Deferred tax	352	–	–	–	–	–	–	–	–	514	–	–	–	–	–	–	–	–	–	–
Tax rate	25.1%	–	–	–	–	–	–	–	–	20.5%	–	–	–	–	–	–	–	–	–	–
Share of profit of joint ventures and associates	308	186	266	−146	360	299	679	403	342	–	734	390	457	633	477	580	614	1,194	628	625
	4,626	5,200	3,978	3,418	4,854	4,872	4,907	4,726	5,209	6,490	5,506	5,380	5,170	7,897	6,108	5,225	5,597	10,615	6,896	7,351
Belonging to the company's shareholders	4,499	5,167	3,978	3,338	4,777	4,861	4,873	4,615	5,155	6,169	5,474	5,275	5,063	7,611	6,011	5,067	5,489	10,486	6,721	7,030
Belonging to outside owners of subsidiaries	128	33	–	79	78	11	34	112	54	321	32	106	107	286	98	159	108	128	175	321
Other comprehensive income	−35	−51	−32	3	−37	−137	−18	−8	48	−46	−109	−48	−82	−92	−52	17	−41	118	−63	−20
Total comprehensive income	4,591	5,148	3,946	3,420	4,817	4,735	4,889	4,718	5,256	6,444	5,397	5,333	5,088	7,805	6,056	5,242	5,556	10,733	6,834	7,331
Net margin	13.9%	14.0%	9.2%	7.7%	10.9%	11.0%	11.4%	10.5%	12.2%	13.6%	11.3%	12.0%	11.5%	15.8%	13.0%	11.7%	12.2%	21.4%	13.6%	13.5%
Net margin without joint ventures and associates	13.0%	13.5%	8.6%	8.1%	10.1%	10.3%	9.8%	9.6%	11.4%	13.2%	9.8%	11.2%	10.5%	14.6%	12.0%	10.4%	10.9%	19.0%	12.4%	12.4%
Earnings per share	₹4.64	₹5.33	₹4.06	₹3.44	₹4.93	₹5.01	₹5.03	₹4.76	₹5.32	₹6.36	₹5.65	₹5.44	₹5.22	₹7.85	₹6.20	₹5.23	₹5.66	₹10.81	₹6.93	₹7.25

Earnings per share in rupees, restated for later splits and bonuses.

Segment results by quarter

Consolidated, ₹ crore, quarters to Sep 2026.NTPC segment results by year

Generation
Revenue, ₹ crore
41,762
47,089
47,324
43,693
44,088
49,353
45,902
43,502
44,658
48,548
49,143
53,258
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Profit, ₹ crore
8,914
10,890
9,240
10,377
9,116
13,808
10,605
10,169
10,534
11,571
10,505
9,212
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Others
Revenue, ₹ crore
3,961
3,442
4,328
4,168
4,154
4,431
4,894
4,923
4,895
4,705
6,619
7,349
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Profit, ₹ crore
456
−268
288
384
297
274
573
294
−184
551
900
1,675
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26

₹ crore	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue of all businesses	45,723	50,531	51,652	47,861	48,243	53,784	50,796	48,425	49,553	53,253	55,762	60,607
Company revenue, as in its results	42,820	47,622	48,521	44,696	45,053	49,834	47,065	44,786	45,846	49,688	50,741	54,270
Revenue	41,762	47,089	47,324	43,693	44,088	49,353	45,902	43,502	44,658	48,548	49,143	53,258
Revenue growth	−3.9%	9.4%	14.0%	−0.3%	5.6%	4.8%	−3.0%	−0.4%	1.3%	−1.6%	7.1%	22.4%
Profit	8,914	10,890	9,240	10,377	9,116	13,808	10,605	10,169	10,534	11,571	10,505	9,212
Profit growth	1.7%	29.4%	9.7%	15.2%	2.3%	26.8%	14.8%	−2.0%	15.6%	−16.2%	−0.9%	−9.4%
Margin	21.3%	23.1%	19.5%	23.7%	20.7%	28.0%	23.1%	23.4%	23.6%	23.8%	21.4%	17.3%
Assets	4,23,065	4,38,046	4,44,791	4,50,122	4,61,741	4,76,559	4,85,067	4,90,367	5,00,894	4,89,859	5,00,335	5,32,909
Liabilities	55,448	59,238	57,990	57,336	59,714	63,101	63,099	63,535	63,509	65,371	65,531	63,805
Capital employed	3,67,617	3,78,808	3,86,801	3,92,786	4,02,027	4,13,458	4,21,969	4,26,833	4,37,385	4,24,488	4,34,804	4,69,104
Revenue	3,961	3,442	4,328	4,168	4,154	4,431	4,894	4,923	4,895	4,705	6,619	7,349
Revenue growth	24.3%	−4.6%	12.0%	4.4%	4.9%	28.7%	13.1%	18.1%	17.8%	6.2%	35.3%	49.3%
Profit	456	−268	288	384	297	274	573	294	−184	551	900	1,675
Profit growth	57.1%	–	−16.9%	−1.8%	−34.8%	–	98.8%	−23.3%	–	101.5%	57.1%	468.8%
Margin	11.5%	−7.8%	6.7%	9.2%	7.2%	6.2%	11.7%	6.0%	−3.8%	11.7%	13.6%	22.8%
Assets	17,839	18,913	18,144	18,456	18,735	20,154	21,151	21,700	21,691	24,536	26,449	28,114
Liabilities	7,397	7,401	6,844	6,946	6,991	7,454	7,328	7,349	10,304	9,555	10,416	11,209
Capital employed	10,442	11,511	11,300	11,511	11,744	12,701	13,823	14,351	11,388	14,981	16,033	16,905
Revenue	372	118	51	71	63	76	384	48	54	170	100	125
Profit	0	0	0	0	0	0	0	0	0	0	0	0
Assets	24,775	23,831	23,777	24,222	23,745	27,856	26,105	27,413	29,822	45,070	46,438	19,129
Liabilities	2,46,076	2,53,442	2,55,770	2,60,247	2,57,675	2,69,943	2,71,754	2,76,562	2,83,686	2,81,364	2,87,430	2,91,667
Revenue	−2,521	−1,832	−2,721	−2,735	−2,708	−2,775	−3,359	−3,211	−3,302	−3,012	−4,721	−6,016
Profit	0	0	0	0	0	0	0	0	0	0	0	0
Assets	−545	−594	−534	−569	−283	−404	−443	−816	−3,106	−821	−2,171	−2,789
Liabilities	−545	−594	−534	−569	−283	−404	−443	−816	−3,106	−821	−2,171	−2,789
	–	–	–	–	–	0	–	0	0	0	0	0
Profit	–	–	–	–	–	633	–	580	614	1,194	628	625
Assets	–	–	–	–	–	0	–	0	0	0	0	0
Liabilities	–	–	–	–	–	0	–	0	0	0	0	0
	–	–	–	–	–	–	0	–	–	–	–	–
Profit	–	–	–	–	–	–	477	–	–	–	–	–
Assets	–	–	–	–	–	–	0	–	–	–	–	–
Liabilities	–	–	–	–	–	–	0	–	–	–	–	–
	–	–	–	–	0	–	–	–	–	–	–	–
Profit	–	–	–	–	457	–	–	–	–	–	–	–
Assets	–	–	–	–	0	–	–	–	–	–	–	–
Liabilities	–	–	–	–	0	–	–	–	–	–	–	–
	–	–	–	0	–	–	–	–	–	–	–	–
Profit	–	–	–	390	–	–	–	–	–	–	–	–
Assets	–	–	–	0	–	–	–	–	–	–	–	–
Liabilities	–	–	–	0	–	–	–	–	–	–	–	–
	–	–	0	–	–	–	–	–	–	–	–	–
Profit	–	–	734	–	–	–	–	–	–	–	–	–
Assets	–	–	0	–	–	–	–	–	–	–	–	–
Liabilities	–	–	0	–	–	–	–	–	–	–	–	–
	–	0	–	–	–	–	–	–	–	–	–	–
Profit	–	211	–	–	–	–	–	–	–	–	–	–
Assets	–	0	–	–	–	–	–	–	–	–	–	–
Liabilities	–	0	–	–	–	–	–	–	–	–	–	–
	0	–	–	–	–	–	–	–	–	–	–	–
Profit	342	–	–	–	–	–	–	–	–	–	–	–
Assets	0	–	–	–	–	–	–	–	–	–	–	–
Liabilities	0	–	–	–	–	–	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.