NTPC Green Energy Ltd Shines with 59% Profit Surge in Q1

NTPC Green Energy Ltd (NGEL) has demonstrated robust financial performance, posting a significant 59% year-on-year increase in consolidated net profit, reaching Rs 220.48 crore for the June quarter. This impressive growth is attributed to higher revenues.

The company, which is a key green portfolio entity under power giant NTPC Ltd, witnessed its total income rise by 24% to Rs 751.69 crore compared to the previous year's figure of Rs 607.43 crore for the same period. Meanwhile, expenses were recorded at Rs 492.55 crore, up from the previous year's Rs 423.99 crore.

NGEL, which spearheads NTPC's green business initiatives, aims to achieve a target of 60 GW by FY32. It recently concluded its IPO, issuing approximately 92.63 crore equity shares, raising Rs 10,000 crore. The shares were listed on NSE and BSE on November 27, 2024.

(With inputs from agencies.)