NTPC Green Energy shares zoom 9% after Q1 results
AI Summary
NTPC Green Energy shares surged 9% after the company reported a significant increase in consolidated net profit for Q1 FY27, rising to ₹304.84 crore from ₹220.48 crore in the same quarter last year. The board also approved the creation of a subsidiary for Renewable Energy projects and an investment to increase its stake in AP NGEL Harit Amrit Limited.
NTPC Green Energy shares zoomed 9 per cent on Thursday, after the company reported a rise in consolidated net profit for the first quarter of FY27.
The stock climbed 8.8 per cent on the NSE to a high of ₹99.39 compared with the previous close of ₹91.30.
The company posted a consolidated net profit of ₹304.84 crore in Q1FY27, compared with ₹220.48 crore in Q1FY26.
The board approved the incorporation of a wholly owned subsidiary or special purpose vehicle for the development of Renewable Energy (RE) projects and subsequent dilution of stake for captive or group captive structuring for Commercial & Industrial (C&I) sector customers.
The board also granted in-principle approval for an investment of up to ₹28 lakh in AP NGEL Harit Amrit Limited (APNHAL), a joint venture of the company.
Following the investment, NTPC Green Energy’s holding in APNHAL will increase from 50 per cent to 51 per cent of the share capital of APNHAL.
Original Article
Published on Hindu BusinessLine