NTPC Green Energy Limited (NGEL), the renewable arm of NTPC Ltd, delivered a blockbuster set of Q4 results for FY25, driving its stock price up by 11% intraday and hitting a fresh 4-month high. The company posted a staggering 188% year-on-year rise in net profit, alongside strong revenue growth and robust operational performance, signaling strong investor confidence in India’s renewable energy growth story.
NTPC Green Energy Q4 FY25 Financial Highlights (Consolidated)
| Financial Metric | Q4 FY25 | Q4 FY24 | YoY Growth |
|---|---|---|---|
| Revenue from Operations | ₹622.27 crore | ₹508.14 crore | 22.4% |
| Total Income | ₹751.50 crore | ₹553.06 crore | 35.9% |
| Profit Before Tax (PBT) | ₹307.02 crore | ₹127.22 crore | 141.3% |
| Net Profit | ₹233.21 crore | ₹80.95 crore | 188% |
| EPS (Diluted) | ₹0.28 | ₹0.17 | 64.7% |
The sharp jump in earnings came on the back of increased generation capacity, better asset utilization, and higher interest income on IPO proceeds.
Yearly Performance (FY25 vs FY24)
| Financial Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Total Income | ₹2,465.70 crore | ₹2,037.66 crore | 21.0% |
| Net Profit | ₹474.12 crore | ₹342.86 crore | 38.3% |
| Total Comprehensive Income | ₹474.12 crore | ₹342.86 crore | 38.3% |
| Earnings per Share (EPS) | ₹0.67 | ₹0.72 | — |
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While FY25 EPS saw a marginal dip due to increased share capital post IPO, overall profitability surged, driven by scale and capital infusion.
Stock Market Reaction
Following the announcement on May 21, 2025, NTPC Green Energy shares surged over 11% in early trade to hit ₹117.90 — its highest level in the last four months. The rally reflects renewed investor optimism around green energy investments, especially after the company posted three straight quarters of solid financial performance since its IPO in November 2024.
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IPO Momentum & Capital Deployment
NTPC Green Energy had raised ₹10,000 crore through its IPO in November 2024. As per the Q4 results filing, the company has utilized ₹6,596 crore so far — including ₹4,150 crore towards debt repayment for its wholly owned subsidiary NTPC Renewable Energy Ltd. The remaining ₹3,350 crore is parked in interest-earning fixed deposits, which contributed ₹165 crore in ‘Other Income’ for FY25.
EBITDA & Margins
The company reported a healthy EBITDA of ₹758 crore for the full FY25, indicating strong operational control. Depreciation and finance costs remained steady in line with capacity expansion and capital expenditure. Notably, the company’s renewable power generation and clean hydrogen pipeline remain its core growth drivers.
Company Overview
NTPC Green Energy, a subsidiary of NTPC Ltd, focuses exclusively on renewable power generation including solar, wind, and emerging sectors like green hydrogen. Its strategic joint ventures with Indian Oil, ONGC, and state discoms position it well for long-term sustainability and capacity addition.
As of March 2025, the company’s consolidated assets crossed ₹45,400 crore — a major leap from ₹27,200 crore in FY24 — reflecting strong expansion and infrastructure buildup.
Outlook
With a strong balance sheet, robust cash flows, and unutilized IPO proceeds ready for deployment, NTPC Green Energy is on track to be one of India’s leading green power giants. Analysts believe the stock may continue to outperform, backed by policy tailwinds, energy transition focus, and capacity expansion plans.
Investors are now eyeing Q1 FY26 for continued momentum, particularly with the company’s upcoming clean hydrogen project in Andhra Pradesh and solar capacity auctions.
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