Tata Power, one of India’s largest vertically integrated power companies, today reported a Profit After Tax (PAT) of ₹1,194 crore for the third quarter ended December 31, 2025 (Q3 FY26), registering a marginal 1% year-on-year growth. The company reported revenue of ₹14,485 crore and EBITDA of ₹3,913 crore, reflecting strong operational performance across its diversified energy portfolio.
For the nine-month period ended December 31, 2025 (9M FY26), Tata Power posted a 7% YoY increase in PAT to ₹3,702 crore, while revenue rose 1% YoY to ₹47,719 crore. EBITDA increased 12% YoY to ₹11,874 crore, driven by robust execution across renewables, transmission and distribution (T&D), new energy solutions, and conventional generation businesses.
The company’s performance during the quarter and nine-month period highlights the strength of its integrated business model, spanning renewable energy generation, EPC, manufacturing, power transmission and distribution, EV charging infrastructure, and rural microgrids.
Commenting on the results, Dr Praveer Sinha, CEO & Managing Director, Tata Power, said, “Q3 FY26 marked strong execution and all-round performance across generation, transmission, distribution, renewables, and manufacturing. We crossed 10 GW of cumulative renewable EPC execution and delivered record solar cell and module output with industry-leading yields. Our rooftop solar installations crossed 4 GWp, while we now serve over 13 million distribution customers nationwide — the largest among private utilities.”
He added that the company’s Odisha distribution companies achieved A+ and A ratings in the Ministry of Power’s 14th Integrated Ratings, while its transmission business commissioned key projects strengthening India’s green energy corridors. Tata Power also secured World Bank financing for Bhutan’s largest PPP hydropower project, further enhancing its regional clean energy portfolio.
Business Highlights – Q3 FY26
Renewables: Expanding Clean Energy and EPC Leadership
During the quarter, Tata Power Renewable Energy Limited (TPREL) commissioned 1 GW solar project for SJVN and 300 MW DCR-compliant solar project for NHPC, utilising modules manufactured at its Tirunelveli facility. The company also added 357 MW of in-house renewable capacity, taking its total utility-scale renewable portfolio to 6.1 GW, comprising 4.9 GW solar and 1.2 GW wind.
Overall, Tata Power commissioned 919 MW of renewable capacity, including 357 MW of its own projects and 562 MW through third-party EPC execution. The company also signed a power purchase agreement (PPA) with Tata Power Mumbai Distribution to develop an 80 MW firm and dispatchable renewable energy project, strengthening its hybrid renewable portfolio.
Transmission & Distribution: Strengthening Grid Infrastructure
In the transmission segment, Tata Power advanced six major projects totalling approximately 2,400 circuit kilometres (Ckm) and remains on track to surpass 7,000 Ckm of operational capacity by FY28. Key commissioning milestones included the 400 kV Koteshwar–Rishikesh transmission line, the 400/220 kV Metro Depot substation at Jalpura Khurja, and the 765 kV Mainpuri–Bara and Mainpuri–Unnao lines spanning 574 Ckm, enabling large-scale renewable power evacuation in Uttar Pradesh.
The company also secured a Letter of Intent from REC Power Development and Consultancy Limited (RECPDCL) for the acquisition of the 226 Ckm Jejuri–Hinjewadi transmission project.
In distribution, Tata Power’s Odisha DISCOMs reported a 1.9% reduction in AT&C losses, while TPNODL and TPCODL achieved A+ ratings, and TPWODL secured an A grade in the Ministry of Power’s ratings. Tata Power Delhi Distribution Limited (TPDDL) reported 28% YoY growth in PAT, supported by favourable regulatory adjustments.
Smart Metering, EV Charging & New Energy Initiatives
During Q3 FY26, Tata Power installed approximately 5.75 lakh smart meters, taking cumulative installations to over 46.5 lakh nationwide. The company also strengthened its EV ecosystem, expanding its public charging network to 5,743 chargers across 677 cities, and installing over 1.93 lakh home chargers, accelerating India’s clean mobility transition.
Rural Electrification, CSR & Sustainability
Through Tata Power Renewable Microgrid (TPRMG), the company joined the Utilities for Net Zero Alliance (UNEZA) and launched integrated renewable solutions for rural entrepreneurship under its “Farmer to Agripreneur” initiative. Tata Power also expanded its skilling programmes with five new Renewable Energy Skill Development Centres in partnership with the ICICI Foundation, alongside launching solar ambassador programmes, green skilling centres in Tamil Nadu, and biodiversity conservation initiatives in Odisha.
Outlook
Dr Sinha stated that the company’s nine-month performance positions it strongly for 2026, supported by rising power demand from manufacturing, urbanisation, and AI-led digital infrastructure. He reaffirmed Tata Power’s commitment to scaling clean energy capacity, enhancing grid resilience, and delivering sustainable long-term growth.
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