Integrated power company Tata Power posted a profit of ₹11.94 billion (~$132.01 million) in the third quarter (Q3) of the financial year (FY) 2026, a slight increase of 1% year-over-year (YoY) from ₹11.88 billion (~$131.3 million).

The company said that higher contributions from Odisha distribution companies, solar cell and module manufacturing, and the rooftop solar business were partly offset by the Mundra plant shutdown, leading to flat profits for the quarter.

The company’s profit after tax (PAT) for its renewable business grew 156% YoY to ₹5.47 billion (~$60.47 million).

Total revenue stood at ₹144.85 billion (~$1.61 billion), down 4.2% YoY from the previous year’s ₹151.18 billion (~$1.67 billion).

Tata Power’s profit from the rooftop solar business grew 85 % YoY to ₹1.11 billion (~$12.27 million) in the quarter.

The company’s solar cell and module manufacturing business reported a profit of over ₹2.51 billion (~$27.75 million), up 124% YoY.

Its manufacturing output stood at 962 MW of cells and 990 MW of modules in Q3, with industry-leading utilization levels and yields.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹39.13 billion (~$432.61 million), up 12.4% YoY from ₹34.81 billion (~$384.85 million).

The company’s profit from the distribution business stood at $7.46 billion (~$82.47 million), up 167% YoY.

Commenting on the results, Praveer Sinha, Chief Executive Officer and Managing Director at Tata Power, said, “The results for Q3 FY26 marked strong execution and all-round performance across generation, transmission, distribution, renewables, and manufacturing. We crossed 10 GW of cumulative renewable engineering, procurement, and construction (EPC) execution, delivered record solar cell and module output with industry-leading yields, scaled rooftop solar, and cumulative installations beyond 4 GW. We now serve over 13 million distribution customers. In Transmission, we commissioned key projects strengthening green energy corridors.”

9M Results

In the first nine months (9M) of FY 2026, the company’s PAT jumped 7% YoY to ₹37.02 billion (~$409.28 million) from ₹34.69 billion (~$383.52 million).

PAT for its renewable business grew 41% to ₹15.88 billion (~$175.56 million) over the nine-month period, up by 102% YoY.

Overall revenue remained flat at ₹477.19 billion (~$5.27 billion) in 9M FY 2026, up 1% YoY from ₹471.74 billion (~$5.21 billion).

Tata Power’s rooftop solar business profit jumped 195% YoY to ₹3.24 billion (~$35.82 million).

The company’s transmission business posted a profit of $4.17 billion (~$47.11 million), up 49% YoY.

Tata Power’s EBITDA for 9M FY 2026 stood at ₹118.74 billion (~$1.31 billion), a 11.6% YoY growth from ₹106.39 billion (~$1.17 billion).

Operational Highlights

In Q3 FY 2026, Tata Power commissioned SJVN’s 1 GW and NHPC’s 300 MW DCR-compliant solar projects using modules from its Tirunelveli facility and added 357 MW of in-house renewable energy capacity.

The company commissioned 919 MW of renewable projects during the quarter, including 357 MW own projects and 562 MW third-party engineering, procurement, and construction projects.

The company won nearly 1.39 GW of rooftop solar orders in 9M FY 2026.

Tata Power built a robust national electric vehicle (EV) charging network with 5,743 public chargers across 677 cities, and installed over 193,000 home chargers during the quarter.

In December last year, Tata Power announced plans to raise ₹20 billion (~$220.53 million) through private placement of unsecured, senior, redeemable, rated, listed, taxable, non-cumulative nonconvertible debentures.

The company reported a revenue of ₹157.69 billion (~$1.78 billion) in Q2 FY 2026, a 3% YoY increase from ₹152.47 billion (~$1.72 billion).