Tata Power reported a strong operational and financial performance for the third quarter ended December 31, 2025, reflecting the resilience of its diversified and value-chain-integrated portfolio across renewables, transmission and distribution, manufacturing, and new energy solutions.
For Q3 FY26, Tata Power posted Profit After Tax (PAT) of ₹1,194 crore, supported by robust execution across core businesses. EBITDA for the quarter rose to ₹3,913 crore, while revenue stood at ₹14,485 crore. Over the nine-month period, PAT increased to ₹3,702 crore, up 7% year-on-year, EBITDA grew 12% to ₹11,874 crore, and revenue reached ₹47,719 crore.
Renewables remained a key growth driver. The renewables business reported PAT growth of 156% YoY to ₹547 crore in Q3 FY26, with EBITDA rising 66% and revenue increasing 78%. The company executed a record ~1.3 GW of renewable projects during the quarter and crossed a milestone of 10 GW in cumulative EPC renewable projects. Total installed capacity stood at 16.3 GW.
Solar manufacturing delivered strong results, with Q3 FY26 PAT rising 124% YoY to ₹251 crore, backed by high utilisation and output of 962 MW of cells and 990 MW of modules. The rooftop solar segment also performed strongly, with Q3 PAT up 85% YoY, supported by rapid customer additions and capacity growth.
The distribution business recorded Q3 PAT of ₹746 crore, up 167% YoY, led by continued improvement in the Odisha DISCOMs. Transmission PAT rose 80% YoY to ₹166 crore, driven by commissioning of key green energy corridor projects.
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, delivered record solar cell and module output with industry-leading yields, scaled Rooftop Solar, cumulative installations, beyond 4 GWp.
We now serve over 13 million Distribution customers nationwide – the largest base among private utilities. Our Odisha Discoms delivered strong financial and operational performance, earning A+ and A grades in the Ministry of Power’s 14th Integrated Ratings. In Transmission, we commissioned key projects strengthening green energy corridors. The World Bank’s financing for Bhutan’s largest PPP hydropower project further strengthens our clean energy portfolio and regional cooperation.
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.”
