NTPC Green Energy (NGEL) reported a net profit of ₹3.05 billion (~$31.55 million) in the first quarter (Q1) of the financial year (FY) 2027, a 38% increase year-over-year (YoY) from ₹2.2 billion (~$22.76 million).

The company reported a total income of ₹11.22 billion (~$116.06 million), up 49% YoY from ₹7.52 billion (~$77.79 million).

Operating earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at ₹9.89 billion (~$102.31 million), a 64% increase from ₹6.04 billion (~$62.48 million) in the corresponding quarter of the previous year.

NGEL’s earnings per share came in at ₹0.36 (~$0.0037) in Q1 FY 2027, compared to ₹0.26 (~$0.0027) in Q1 FY 2026.

The company’s consolidated operational renewable energy capacity stood at 10,671 MW as of June 30, 2026, up from 6,802 MW a year earlier. The portfolio comprised 9,891 MW of solar and 780 MW of wind capacity.

Renewable energy generation increased 65% YoY to 5,753 million units from 3,486 million units. Solar generation rose 67% to 5,126 million units from 3,073 million units, while wind generation increased 51% to 627 million units from 414 million units.

The solar capacity utilization factor stood at 24%, down from 25% in the corresponding quarter last year. Wind capacity utilization factor improved to 37% from 33%, while the overall consolidated capacity utilization factor stood at 25%, compared to 26% a year earlier.

During the quarter, NGEL added 595 MW of operational capacity, comprising 195 MW under NTPC Renewable Energy and 400 MW under Ayana Renewable Power. As of July 20, 2026, the company’s operational capacity had increased further to 10,722 MW.

The company’s operating, contracted, and awarded renewable energy portfolio stood at 26,989 MW, comprising 10,671 MW of operational capacity and 16,318 MW of contracted and awarded projects. Including 3,424 MW of projects in the pipeline, NGEL’s total renewable energy portfolio stood at 30,413 MW.

NGEL’s battery energy storage system portfolio totaled 2,120 MWh. This comprised 1,600 MWh in Rajasthan, 320 MWh in Kerala, and 200 MWh in Uttar Pradesh.

During the quarter, NTPC Renewable Energy began developing a 250 MW solar project with a battery energy storage system on defence land in Sitapur, Uttar Pradesh. Ayana Renewable Power also secured a 193 MW wind project from Madhya Pradesh Power Management Company.

The board approved the incorporation of a wholly owned subsidiary or special purpose vehicle to develop renewable energy projects for commercial and industrial consumers under captive and group captive arrangements. It also approved an investment of up to ₹28.78 million (~$297,713.87) in AP NGEL Harit Amrit, increasing NGEL’s stake in the joint venture from 50% to 51%.

NGEL reported revenue from operations of ₹9.13 billion (~$95.4 million) in Q4 FY 2026, a 46.7% YoY increase from ₹6.22 billion (~$65 million).

In November last year, the company issued ₹15 billion (~$156.7 million) of unsecured, non-cumulative, redeemable, taxable, non-convertible debentures through private placement. The proceeds were meant for capital expenditure, refinancing and recoupment of capital expenditure, financing subsidiaries and joint ventures through inter-corporate loans, and general corporate purposes.