NTPC Q2 power generation grows 13% to 118 bn units; coal dispatch up 28%
NTPC set out an expansion in a quarterly results development for Q2 FY 2026.
· BS Companies
NTPC has reported about 13 per cent year-on-year growth in power generation to 117.9 billion units (BUs) in July-September from 104.4 BUs in the year-ago quarter. "NTPC recorded robust growth across generation, coal dispatch and power trading, reflecting sustained operational efficiency," the company said in a statement on Thursday.
Key facts
- Period
- Q2 FY 2026 and Q2 FY 2025
The analysis
NTPC reported movement of 13%, 28% and 22% for Q2 FY 2026. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -2.5% on the day at ₹309.00, and has returned -10.4% over three months. It sits 25% below its 52-week high. The power sector has moved -13.4% over the same period, so NTPC is running 3.0 points ahead of its peers.
For NTPC, the question is how much of this is already reflected in the price and how much re-rates the power peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- The company directly in focus is NTPC.
- Sector exposure: Power.
In this story
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