Earnings call transcript: KPI Green Energy Q2 2027 profit falls as growth continues

KPI Green Energy's Q2 2027 earnings call revealed mixed results as the renewable developer continued its expansion. Total income climbed 16% to INR 741 crore, while EBITDA increased 22% to INR 283 crore, driven by stable operating margins of 38%. However, net profit fell to INR 92 crore, down from INR 117 crore a year earlier, as higher depreciation and financing costs associated with new capacity weighed on reported earnings.

Despite the profit decline, cash profit remained robust at INR 182 crore, indicating healthy cash flow generation. The company's renewable portfolio stands at 8.33 GW, with 3.02 GW installed and 5.3 GW under construction. Investors expressed cautious sentiment, with the stock trading down 3.17% at $321, below its 52-week high of $514.

Management reaffirmed FY 2027 profit guidance of about INR 500 crore and indicated that second-half performance typically surpasses first-half results. The company aims to close acquisitions by March 31, 2027, and expects its renewable portfolio to mature and generate more profit in the long run.