Tata Power’s Q3 profit falls 25 pc to Rs 772 crore; revenue declines

Mumbai, Feb 4 (IANS) Tata Power on Wednesday reported a 25 per cent year-on-year (YoY) decline in consolidated net profit attributable to the equity holders of the company at Rs 772 crore for the October–December quarter (Q3) of FY26, compared to Rs 1,031 crore in the same period last financial year (Q3 FY25).

The drop came amid lower revenues and flat power demand during the quarter.

The company’s revenue from operations fell 9 per cent to Rs 13,948.41 crore in Q3 FY26 from Rs 15,391.06 crore in the year-ago quarter, according to its stock exchange filing.

Total expenses declined around 6 per cent year-on-year to Rs 13,465.06 crore, as per its regulatory filing.

Tata Power said it also recorded a one-time exceptional expense of Rs 78 crore due to the implementation of new labour codes that came into effect last year.

The company noted that power demand during the quarter remained flat, compared to a 7 per cent growth seen in the corresponding period of the previous financial year.

However, on an adjusted basis, the company reported a 1 per cent rise in profit after tax to Rs 1,194 crore.

Its EBITDA increased 12 per cent to Rs 3,913 crore during the quarter — indicating operational strength across key segments.

Praveer Sinha, CEO and Managing Director of Tata Power, said the third quarter marked strong execution and all-round performance across generation, transmission, distribution, renewables and manufacturing businesses.

He highlighted that the company crossed 10 GW of cumulative renewable EPC execution and achieved record solar cell and module output with industry-leading yields. The company also expanded its rooftop solar installations beyond 4 GWp.

Sinha said Tata Power now serves over 13 million distribution customers across the country, making it the largest private utility in terms of customer base.

He added that the company’s Odisha discoms delivered strong financial and operational performance and received A+ and A grades in the Ministry of Power’s 14th Integrated Ratings.

In the transmission segment, Tata Power commissioned key projects aimed at strengthening green energy corridors.

The company also secured World Bank financing for Bhutan’s largest public-private partnership hydropower project, further expanding its clean energy portfolio and regional cooperation.

Looking ahead, Sinha said the company’s nine-month performance places it in a strong position as it enters 2026.

He pointed to favourable macroeconomic conditions and rising power demand driven by manufacturing growth, urbanisation and AI-led digital infrastructure.

He said Tata Power remains focused on responsibly scaling clean energy capacity, strengthening system resilience and delivering long-term, sustainable growth.

–IANS

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