Key Highlights
- Q2 FY26 PAT up 14% YoY to ₹1,245 crore.
- H1 FY26 PAT rises 10% YoY to ₹2,508 crore.
- Revenue up 3% YoY to ₹15,769 crore
- EBITDA increases 6% to ₹4,032 crore.
- Renewables PAT up 70% YoY to ₹511 crore
- EBITDA up 57%.
- Solar Cell and Module PAT soars 262% YoY to ₹240 crore.
- Odisha DISCOM PAT up 362% YoY to ₹174 crore.
- Rooftop solar revenue up 158% YoY to ₹1,133 crore.
- EV charging points cross 1.7 lakh
- 5,613 public chargers installed.
Tata Power Company Limited reported a 14% year-on-year growth in consolidated Profit After Tax (PAT) to ₹1,245 crore for the quarter ended September 30, 2025 (Q2 FY26). Revenue rose 3% to ₹15,769 crore, while EBITDA increased 6% to ₹4,032 crore, supported by improved operating efficiency and a diversified portfolio.
For the first half of FY26, PAT grew 10% to ₹2,508 crore, with revenue up 4% to ₹33,233 crore and EBITDA rising 11% to ₹7,961 crore.
Renewables Drive Growth
The company’s renewable energy segment remained a major growth driver. Segment PAT increased 70% year-on-year to ₹511 crore in Q2 FY26, while EBITDA surged 57% to ₹1,575 crore. Revenue from renewables rose 89% to ₹3,613 crore, led by strong performance in solar manufacturing and rooftop solar businesses.
TP Solar achieved a quarterly output of 928 MW of solar cells and 970 MW of modules. The company dispatched a record 809 MW of DCR modules in Q2, marking its highest-ever single-quarter dispatch. Tata Power’s solar business also earned Bloomberg NEF Tier-1 manufacturer status, strengthening its export potential from the 4.3 GW Tirunelveli facility.
Rooftop Solar and Distribution Expansion
The rooftop solar business posted a 158% YoY rise in revenue to ₹1,133 crore, with total installations exceeding 3.8 GWp across more than 2.7 lakh systems. The order book stood at ₹1,116 crore, backed by a nationwide network of over 644 partners and 2,000 retailers.
Odisha DISCOMs reported PAT of ₹174 crore, up 362% YoY, reflecting continued operational efficiency and AT&C loss reduction. Tata Power plans to expand its distribution footprint in Maharashtra, Goa, and Uttar Pradesh, aligning with upcoming Electricity Act amendments.
Transmission, Hydro, and Clean Energy Projects
The transmission business recorded PAT of ₹120 crore, up 41% YoY, while the distribution business posted ₹557 crore, an increase of 34%. Tata Power has commenced work on the 600 MW Khorlochhu Hydro Project in Bhutan and the 1,000 MW Bhivpuri Pumped Storage Project in Maharashtra to strengthen renewable energy supply.
Strategic Initiatives and Sustainability
Tata Power continues to advance its clean energy portfolio, with 10 GW of green capacity under construction and an additional 5 GW hybrid project pipeline. The company’s smart metering initiative achieved 9.5 lakh new installations in Q2 FY26, taking cumulative installations to 41 lakh across its DISCOMs.
In sustainability, Tata Power scored 76 in the S&P CSA 2025 ESG Ratings, placing it in the 90th percentile of the Electric Utility sector. It also received awards for innovation, digital transformation, and employee engagement in climate and energy literacy initiatives.
Management Outlook
Dr. Praveer Sinha, CEO and Managing Director, stated that the results demonstrate the company’s strong operational execution and integrated business model. He highlighted that Tata Power’s diversified energy portfolio positions it well for growth, with continued investments in clean and consumer-focused energy solutions.