NTPC Green Energy Net Profit in March Quarter up by 188.14%
By Ankur Chandra | Updated at: May 31, 2025 10:45 PM IST
Mumbai, 22 May 2025 – Shares of NTPC Green Energy Ltd., the recently demerged and listed renewable energy arm of state-run NTPC Ltd., rose as much as 4% on Wednesday, May 21, following the announcement of its March quarter results. Despite the positive market reaction, the stock continues to trade below its IPO price of ₹108, currently quoting at ₹104.9—a 1.8% gain intraday. It remains significantly below its post-listing high of ₹155.
Strong Profit Growth Boosted by Other Income
In the March quarter (Q4 FY25), NTPC Green Energy reported a sharp rise in net profit, which surged nearly threefold to ₹233 crore, compared to ₹81 crore in the same period last year. This impressive jump in profitability was supported by a substantial increase in other income, which also nearly tripled year-on-year to ₹129.2 crore from ₹44.9 crore.
Total revenue for the quarter climbed 22.5%, reaching ₹622.3 crore as against ₹508 crore in the corresponding quarter of the previous year.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) for Q4 stood at ₹560.4 crore, a rise of 28.3% from ₹436.7 crore in the year-ago quarter. The company’s EBITDA margin saw a significant improvement of 400 basis points, expanding to 90% from 86% a year earlier.
NTPC Green Energy – Audited Consolidated Financial Results (₹ in Crore)
| Particulars | Q4
31-Mar-2025 |
Q4
31-Mar-2024 |
Y-o-Y % Change |
| Revenue from Operations | 622.27 | 508.14 | +22.46% |
| Other Income | 129.23 | 44.92 | +187.66% |
| Employee Benefits Expense | 14.67 | 12.14 | +20.80% |
| Finance Costs | 176.77 | 181.33 | −2.52% |
| Depreciation & Amortisation | 205.86 | 173.15 | +18.94% |
| Other Expenses | 47.33 | 59.22 | −20.06% |
| EBITDA | 560.27 | 436.45 | +28.4% |
| Net Profit | 233.21 | 80.95 | +188.14% |
Long-Term Growth Strategy and Capacity Expansion
As of the end of December 2024, NTPC Green Energy had an operational installed capacity of 3.3 GW, with an additional 5.9 GW under construction. A further 10.8 GW of capacity is currently secured through competitive bids and bilateral agreements.
Looking ahead, the company has set an ambitious target to commission 40 GW of additional capacity by FY32, which would elevate its total renewable energy capacity to 60 GW. This aligns with its long-term vision to become a leading force in India’s clean energy transition.
In addition to solar and wind energy assets, NTPC Green Energy is planning to develop 14 GW of pumped hydro storage capacity, expected to be rolled out over the next six to nine years, enhancing grid reliability and energy storage capabilities.
Shareholding Structure and Market Presence
NTPC Ltd., the parent company, retained an 89% stake in NTPC Green Energy at the end of March 2025. Among institutional and public investors, Nippon India Mutual Fund held a 1.19% stake, while Life Insurance Corporation of India (LIC) owned 1.2%. Foreign Portfolio Investors (FPIs) accounted for 2% of the shareholding. Additionally, nearly 14 lakh retail shareholders—those with investments up to ₹2 lakh collectively owned 3.6% of the company.
Market Reaction
Following the announcement of its Q4 results, NTPC Green Energy shares witnessed a brief rally, reflecting investor optimism around the company’s strong financial performance and long-term expansion plans. However, the stock continues to trade marginally below its IPO price, as broader market sentiment and valuation concerns weigh in.
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