Tata Power has reported weaker financial results for the third quarter of FY26, mainly due to the closure of its Mundra thermal power plant, even as its renewable and core businesses continued to grow steadily.
For the October–December quarter, Tata Power posted a consolidated net profit of ₹771 crore, down 25 percent from ₹1,030 crore in the same period last year. The company’s revenue from operations fell by 9 percent to ₹13,948 crore, compared to ₹15,391 crore a year ago.
Despite the drop in profit and revenue, EBITDA increased by 12 percent to ₹3,913 crore, showing stronger operational performance. Total expenses during the quarter declined to ₹13,465 crore, compared to ₹14,249 crore in the year-ago period.
For the first nine months of FY26, Tata Power delivered a better performance. Profit after tax rose 7 percent to ₹3,702 crore, while revenue increased by 1 percent to ₹47,719 crore. EBITDA for the nine-month period grew 12 percent to ₹11,874 crore, supported by growth in renewable energy, transmission, distribution, and solar manufacturing businesses.
The company’s renewable energy business continued to expand strongly. Utility-scale renewable capacity reached 6.1 GW, including 4.9 GW of solar and 1.2 GW of wind. During the quarter, Tata Power commissioned 919 MW of renewable projects, including both own projects and third-party EPC execution. The company expects clean energy to account for over 66 percent of total capacity once ongoing projects are completed.
Tata Power’s rooftop solar business also performed well, adding 1 GWp capacity and 1.7 lakh new customers in the first nine months of FY26. Solar manufacturing output remained strong, with 962 MW of solar cells and 990 MW of modules produced during the quarter.
In the EV charging segment, the company has installed 5,743 public and captive charging stations across 667 cities and towns, excluding over 1.9 lakh home chargers set up for Tata Motors’ EV customers.
Commenting on the performance, CEO and Managing Director Dr. Praveer Sinha said,
“Our nine-month performance positions us strongly as we enter 2026, supported by favourable macro conditions and rising power demand from manufacturing, urbanisation, and AI-led digital infrastructure. As India enters a decisive phase of power sector expansion, Tata Power remains focused on responsibly scaling clean energy capacity, strengthening system resilience, and delivering long-term, reliable growth.”
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