NTPC Green Energy Ltd., a wholly owned subsidiary of NTPC Ltd., delivered a stellar performance for the quarter ended March 2025, driven by robust operating metrics, strong cost control, and a substantial jump in other income. The company’s net profit surged by 96.87% year-on-year to Rs 2,051.20 million, compared to Rs 1,041.90 million in Q4 FY24.
Quarterly Highlights (Q4 FY25 vs Q4 FY24)
| Metric | Q4 FY25 | Q4 FY24 | YoY % Change |
|---|
| Revenue from Ops | Rs 5,486.40 Mn | Rs 5,002.40 Mn | +9.68% |
| Operating Profit (PBIDT) | Rs 6,093.30 Mn | Rs 4,884.10 Mn | +24.76% |
| Net Profit (PAT) | Rs 2,051.20 Mn | Rs 1,041.90 Mn | +96.87% |
| Other Income | Rs 1,377.60 Mn | Rs 474.60 Mn | +190.27% |
| PBT | Rs 2,789.30 Mn | Rs 1,504.60 Mn | +85.38% |
| EBITDA Margin | 111.06% | 97.64% | +13.75% pts |
The company’s PBIDT margin jumped to an impressive 111.06%, compared to 97.64% in the same quarter last year, reflecting a strong cost structure and improved efficiency in green energy operations.
Key Growth Drivers
Other Income Surge: Other income grew 190% YoY to Rs 1,377.60 million, likely supported by interest, treasury gains, or subsidies—significantly boosting overall profitability.
Interest Cost Management: Finance costs dropped 6.8% YoY to Rs 1,607.40 million, easing pressure on the bottom line.
Consistent Revenue Growth: Topline rose by nearly 10%, supported by a steady scale-up of renewable energy capacity and improved asset utilization.
FY25 Year-to-Date Performance
On a full-year basis, NTPC Green Energy recorded:
Revenue of Rs 20,225.40 million (+3.66% YoY)
Net Profit of Rs 4,892.60 million (+32.06% YoY)
EBITDA of Rs 19,914.40 million (+9.09% YoY)
Despite modest annual revenue growth, net profit expansion signals margin improvement and better financial discipline.
Analyst Insights
Analysts tracking the renewable space believe that NTPC Green Energy’s strong Q4 indicates the scalability of its renewable portfolio and increasing cost efficiency. The reduction in interest expenses and rise in other income are seen as pivotal contributors to its performance.
Additionally, with India's ongoing thrust on clean energy and NTPC’s ambitious 60 GW renewable energy target by 2032, the subsidiary is expected to continue its growth momentum.
Outlook
With the Indian government’s aggressive focus on green energy transition and NTPC Green Energy’s consistent capacity additions, analysts expect a healthy growth trajectory in FY26. Market watchers will also look for future updates on IPO plans or strategic partnerships that could unlock further value.
Written by Indira Securities SEBI Registered with 30 plus years of experience in Stock Market!!!