Tata Power reported a resilient financial performance for the third quarter ended December 31, 2025, supported by strong execution across renewables, transmission and distribution, manufacturing, and new energy solutions.
The company posted a consolidated profit after tax (PAT) of ₹1,194 crore in Q3 FY26, compared with ₹1,188 crore in the same period last year. For the nine months ended December 31, 2025, PAT rose 7% year-on-year to ₹3,702 crore.
Revenue for the quarter stood at ₹14,485 crore, while EBITDA increased 12% year-on-year to ₹3,913 crore. For the nine-month period, revenue rose marginally by 1% to ₹47,719 crore and EBITDA grew 12% year-on-year to ₹11,874 crore.
Tata Power said its core business PAT doubled on a year-on-year basis during the quarter, reflecting the strength of its diversified, value-chain-integrated portfolio spanning renewable generation, transmission and distribution, manufacturing, and conventional power.
The company crossed a milestone of 10 GW in cumulative EPC renewable projects executed during the quarter and delivered a record execution of around 1.3 GW of renewable projects in Q3 FY26. Its total installed capacity stood at 16.3 GW as of December 31, 2025.
The renewable energy business reported sharp growth, with Q3 FY26 PAT rising 156% year-on-year to ₹547 crore. EBITDA increased 66% to ₹1,637 crore, while revenue grew 78% to ₹3,785 crore. For the nine-month period, renewable energy PAT rose 102% year-on-year to ₹1,588 crore.
Solar cell and module manufacturing continued to scale, with Q3 FY26 PAT increasing 124% year-on-year to ₹251 crore and nine-month PAT rising 154% to ₹592 crore. Manufacturing output during the quarter stood at 962 MW of solar cells and 990 MW of modules, supported by high utilisation and improved yields.
The rooftop solar business maintained strong momentum. Q3 FY26 PAT grew 85% year-on-year to ₹111 crore, while nine-month PAT rose 195% to ₹324 crore. During the nine-month period, Tata Power Solar added 1 GWp of rooftop capacity and 1.7 lakh new consumers. Q3 FY26 alone saw 58,476 installations and a capacity addition of 372 MWp, taking the cumulative rooftop base beyond 3 lakh customers and over 4 GW of installed capacity.
The distribution business recorded significant improvement, with overall Q3 FY26 PAT rising 167% year-on-year to ₹746 crore. Nine-month PAT increased 46% to ₹1,613 crore. Odisha DISCOMs posted strong operational performance, with Q3 FY26 PAT rising 163% to ₹226 crore and nine-month PAT increasing 208% to ₹505 crore, alongside a reduction in AT&C losses.
The transmission business also reported growth, with Q3 FY26 PAT rising 80% year-on-year to ₹166 crore and nine-month PAT increasing 49% to ₹417 crore. Tata Power advanced six transmission projects totalling about 2,400 circuit kilometres during the period.
Progress continued on strategic clean energy projects, including the 1,000 MW Bhivpuri pumped storage project in Maharashtra. The 1,125 MW Dorjilung hydro power project in Bhutan secured $500 million in World Bank-approved long-term financing, with the balance to be raised from the market.
The company expanded its electric vehicle charging network to 5,743 public chargers across 677 cities and installed over 1.93 lakh home chargers nationwide during the period.
Commenting on the results, CEO and Managing Director Dr Praveer Sinha said the company’s performance reflects strong execution across businesses and positions Tata Power well for growth amid rising electricity demand driven by manufacturing, urbanisation and digital infrastructure.
