NHPC Q4 Results FY2026: Net Profit Surges 71% to ₹1,460 Crore — Dividend, Revenue & Full-Year Highlights
By Kaushik Brahmakshatriya
Published On 18 May 2026.
NHPC Q4 Results FY2026
India’s leading hydropower generator, NHPC Limited, has delivered a strong set of financial results for the fourth quarter of FY2026 (January–March 2026). The Navratna Central Public Sector Enterprise reported a massive jump in profitability backed by improved power generation, major project commissionings, and a significant tax adjustment. Here is a complete breakdown of NHPC’s Q4 FY26 results.
NHPC Q4 FY2026: Quarterly Performance at a Glance
NHPC’s standalone net profit rose 71% year-on-year to ₹1,460.16 crore in Q4 FY2026, compared to ₹853.64 crore in Q4 FY2025. Revenue from operations also climbed significantly to ₹2,815.53 crore versus ₹2,346.97 crore in the year-ago quarter.
NHPC Q4 FY26 vs Q4 FY25 (Standalone)
| Metric | Q4 FY2026 | Q4 FY2025 | YoY Change |
| Net Profit | ₹1,460.16 Cr | ₹853.64 Cr | +71% |
| Revenue from Operations | ₹2,815.53 Cr | ₹2,346.97 Cr | +19.96% |
| Total Income | ₹3,120.52 Cr | ₹2,557.71 Cr | +22% |
| Depreciation | ₹642.01 Cr | ~₹314 Cr | +104% YoY |
| Interest Outgo | ₹574.28 Cr | –₹12.09 Cr (reversal) | Higher |
Full-Year FY2026 Performance — A Record Year for NHPC
For the full financial year 2025-26, NHPC reported a standalone net profit of ₹3,689.49 crore, up 24.6% from ₹2,962.20 crore in FY25. Annual revenue from operations reached ₹11,615.29 crore, compared to ₹10,933.17 crore in FY25. On a consolidated basis, the annual net profit stood at ₹4,220.46 crore against ₹3,411.73 crore the previous year, and total income rose to ₹12,686.09 crore from ₹11,614.61 crore.
NHPC Full Year FY26 vs FY25 (Standalone)
| Metric | FY2026 | FY2025 | Growth |
| Net Profit | ₹3,689.49 Cr | ₹2,962.20 Cr | +24.6% |
| Revenue from Operations | ₹11,615.29 Cr | ₹10,933.17 Cr | +6.2% |
| Consolidated Net Profit | ₹4,220.46 Cr | ₹3,411.73 Cr | +23.7% |
| Total Consolidated Income | ₹12,686.09 Cr | ₹11,614.61 Cr | +9.2% |
Dividend Declared for FY2026
The Board of Directors recommended a final dividend of ₹0.21 per equity share (2.10% of face value ₹10) for FY2026, subject to shareholder approval at the upcoming Annual General Meeting. This is in addition to the interim dividend of ₹1.40 per share already distributed in February 2026 bringing the total payout to ₹1.61 per share for the full year.
Key Project Milestones in FY2026
NHPC made significant strides in expanding its installed capacity during FY2026. These project commissionings directly contributed to higher generation volumes and revenue:
Three units totalling 750 MW of the Subansiri Lower Hydroelectric Project (2,000 MW) were commissioned during FY2026. One additional 250 MW unit was commissioned on May 8, 2026, taking total installed capacity for this project to 1,000 MW. The Parbati-II H.E. Project (800 MW) was commissioned in April 2025, with provisional sales of ₹1,278.44 crore recognized for FY26 pending final CERC tariff approvals
NHPC Project Commissioning Status FY2026
| Project | Capacity | Status | Revenue Recognition |
| Subansiri Lower HEP | 2,000 MW (1,000 MW done) | 4 units operational | Active |
| Parbati-II HEP | 800 MW | Commissioned Apr 2025 | ₹1,278.44 Cr (provisional) |
| Total Installed Base | 9,333 MW (31 stations) | Operational | — |
| Projects Under Construction | 9,204 MW (17 projects) | In progress | — |
Strategic Moves: Bond Issuance & Subsidiary Merger
In a key strategic move, NHPC’s Board approved raising up to ₹2,000 crore through the issuance of listed, unsecured, non-cumulative, non-convertible, redeemable taxable Series A1 Bonds via private placement as part of its borrowing plan for FY2026-27. The proceeds will support ongoing renewable energy expansion. Additionally, the merger of wholly-owned subsidiary Jalpower Corporation Limited (JPCL) with NHPC is underway, with the second motion application currently pending before the Ministry of Corporate Affairs (MCA).
Q&A: NHPC Q4 FY2026 Results — Investor FAQs
Q1. What was NHPC’s net profit in Q4 FY2026?
NHPC reported a standalone net profit of ₹1,460.16 crore in Q4 FY2026, a 71% rise compared to the same quarter last year.
Q2. What is NHPC’s total dividend for FY2026?
The total dividend for FY2026 is ₹1.61 per share — comprising an interim dividend of ₹1.40 per share paid in February 2026 and a final dividend of ₹0.21 per share recommended by the board.
Q3. Why did NHPC’s profit jump so sharply in Q4 FY26?
The profit surge was significantly boosted by a tax reversal of ₹1,823.20 crore, in addition to 19.96% revenue growth driven by new project commissionings and improved power generation.
Q4. What is NHPC’s total installed capacity as of FY26?
NHPC, along with its subsidiaries and joint ventures, currently has an installed capacity of 9,333 MW from 31 power stations and is constructing 17 projects with a combined capacity of 9,204 MW.
Q5. Has NHPC received a clean audit report?
Yes. All audited results for the quarter ended March 31, 2026, received an unmodified opinion from the joint statutory auditors, ensuring transparency and compliance across all reported financial metrics.
Q6. What are NHPC’s plans for FY2027?
NHPC plans to raise up to ₹2,000 crore through bond issuance in FY27 to fund its expanding hydro and renewable energy project pipeline. The company has also opted for the concessional tax regime from FY2026-27 onwards, which is expected to lower its effective tax rate going forward.
Conclusion
NHPC’s Q4 FY2026 results reflect a company on a strong growth trajectory, with record capacity additions, rising revenues, and solid dividend payouts for shareholders. While the one-time tax reversal amplified the quarterly profit figure, the underlying operational momentum — driven by Subansiri, Parbati-II, and a large project pipeline — positions NHPC as a long-term play in India’s renewable energy story. Investors and market watchers will now focus on FY2027 guidance and the pace of new project commissioning.
Disclaimer
This blog does not provide financial, investment, or trading advice. All content is for educational and informational purposes only. Please consult a certified financial advisor before making any investment decisions. The author will not be responsible for any financial losses incurred
