Tata Poweron Wednesday reported a 25% drop in net profit for the third quarter of FY26 at Rs 772 crore as compared to Rs 1,031 crore during the same period last year. Analysts had estimated a net profit of Rs 919 crore for the quarter.
The company also missed analyst estimates on revenue, posting a decline of 9.4% to Rs 13,948 crore as compared to Rs 15,391 crore in Q3FY25. Analysts expected a revenue of Rs 15,762 crore for the quarter.
Ebitda for the quarter fell 9% to Rs 3,055 crore. However, Ebitda margins went up to 21.9% from 21.8% in Q3FY25.
Renewable EPC execution
Praveer Sinha, CEO & managing director, Tata Power, said, we have 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.
The company said it executed a record 1.3GW of renewable projects in Q3FY26. Total utility-scale capacity reached 6.1 GW, including 4.9 GW solar, 1.2 GW wind. The company’s total installed capacity stood at 16.3 GW, it said.
“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,” Sinha said.
In a call with reporters, Sinha said the only place where they did not do well was that the Mundra plant did not operate.”We are now in the final stages of finalising the SPPA (supplementary power purchase agreement) inGujaratfirst, and then the same will be taken up with the other states. We have virtually agreed on most of the things. I expect that in next few weeks, we will finalise that,” he said. “Fourth quarter will be robust,” he added.
US trade deal is a positive sign
He said the US trade deal is a positive sign for the industry and will open up new opportunities in technology and partnerships in nuclear and renewable areas.
On nuclear power, he said, we are examining the details. “A lot of regulations and details have to come out. Clarity will come out in six to nine months on areas such as licencing and fuel sourcing and so on,” he said. We are engaged with NCPL and Department of Atomic Energy on the subject, he added.
The firm is examining opportunities in thermal power and will take up projects on merit, Sinha said. We are looking at digesting some of our international assets and buyers are in due diligence, he added. On buying out investors in Resurgent Power, he said talks are underway and will be finalised in 2 to 3 months.
