NHPC Limited reported consolidated profit for the period of ₹1,657.57 crore for the quarter ended 30 September 2026 (Q2 FY27), against ₹1,219.28 crore in Q2 FY26 and ₹1,178.09 crore in the previous quarter. Consolidated total income was ₹4,669.58 crore. The unaudited results were approved by the Board at a meeting held on Wednesday, 4 November 2026, which ran from 4:40 PM to 5:45 PM, and filed with the stock exchanges.
Consolidated results
Consolidated revenue from operations was ₹4,482.55 crore in Q2 FY27, compared with ₹3,808.31 crore in Q1 FY27 and ₹3,365.26 crore in Q2 FY26. Other income was ₹187.03 crore, taking total income to ₹4,669.58 crore, against ₹3,959.72 crore in Q1 FY27 and ₹3,629.98 crore a year earlier.
For the first half of FY27, consolidated revenue from operations was ₹8,290.86 crore against ₹6,579.03 crore in H1 FY26. Half-year total income was ₹8,629.30 crore against ₹7,072.74 crore, and half-year consolidated profit was ₹2,835.66 crore against ₹2,350.44 crore.
Costs also rose. Consolidated finance costs were ₹556.17 crore in Q2 FY27 against ₹277.69 crore a year earlier, and depreciation, amortisation and impairment was ₹610.03 crore against ₹441.46 crore. The filing figures do not state the reason for these increases.
Standalone results
On a standalone basis, revenue from operations was ₹4,124.77 crore in Q2 FY27 against ₹2,732.11 crore in Q2 FY26 and ₹3,537.04 crore in Q1 FY27. Standalone profit for the period was ₹1,525.49 crore, compared with ₹925.52 crore a year earlier and ₹1,113.41 crore in the previous quarter. For the half year, standalone revenue was ₹7,661.81 crore against ₹5,709.54 crore, and standalone profit was ₹2,638.90 crore against ₹1,997.39 crore.
The standalone profit figure includes movements in regulatory deferral account balances, which were ₹281.78 crore (net of tax) in the quarter.
Subansiri Lower: fifth unit commissioned
The filing notes that NHPC commissioned the 4th unit of 250 MW of the 2,000 MW Subansiri Lower Project during the half year ended 30 September 2026. With that, 1,000 MW (4 of 8 units) of the project had been commissioned by 30 September 2026.
The 5th unit of 250 MW was commissioned on 23 October 2026, so the total installed capacity of the Subansiri Lower Project is now 1,250 MW, with three of the eight units still to come.
Parbati-II and tariff
The company also states that it commissioned the 800 MW Parbati-II hydroelectric project during FY 2025-26 and that a petition for fixation of tariff has been filed with the Central Electricity Regulatory Commission (CERC). The notes explain that, under the CERC Tariff Regulations for 2024 to 2029, customers are billed as per the Annual Fixed Charge approved by the Commission for the respective power stations.
Dividend
The notes record that shareholders had approved a final dividend of ₹0.21 per share (face value ₹10 each) for FY 2025-26.
What it means for India’s clean-energy sector
NHPC is India’s largest hydropower developer, and these results come as large projects such as Subansiri Lower come online unit by unit. Hydropower with storage is also central to India’s plans for firm and flexible clean power. The remaining three units of Subansiri Lower and the tariff determination for Parbati-II will matter for the company’s future revenue, and the filing does not give dates for either.
Official references
- NHPC Limited, outcome of the Board meeting held on 4 November 2026 and unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, filed with NSE – nseindia.com
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