Tata Power Q1 FY2026-27 Results: Net Profit Jumps To ₹1,176 Crore; EBITDA Slips 3% YoY

Tata Power Ltdon Monday, July 27, 2026, reported its financial results for the April–June quarter (Q1 FY2026-27) after market hours, posting higher revenue and profit despite a decline in operating profitability. Growth during the quarter was driven by its renewable energy and transmission & distribution (T&D) businesses.

The Tata Group company reported a consolidated net profit of ₹1,176 crore for the quarter, up 11% from ₹1,060 crore in the corresponding period last year. Revenue from operations rose 5.6% year-on-year to ₹19,051 crore, compared with ₹18,035 crore a year ago.

The company said earnings growth was supported by improved performance across its key business segments, although gains were partly offset by lower contribution from Tata Projects and higher corporate expenses.

EBITDA declined 3% year-on-year to ₹4,013 crore from ₹4,139 crore in the year-ago quarter. EBITDA margin narrowed to 21.06% from 22.95% a year earlier.

Capital expenditure during the quarter stood at ₹5,375 crore.

Tata Power Q1 FY2026-27 Results- Segment Performance

Tata Power's generation, transmission & distribution (T&D) and renewable energy businesses continued to support earnings during the quarter. Combined revenue from these businesses rose 12% year-on-year, while EBITDA increased 12% and profit after tax grew 14%, aided by operational efficiencies.

Within the renewables business, profit after tax rose 15% year-on-year to ₹612 crore.

The company's solar cell and module manufacturing business reported a profit after tax of ₹371 crore, nearly 3.9 times higher than a year ago. Meanwhile, the rooftop solar business posted a profit after tax of ₹145 crore, up 1.7 times, supported by stronger execution and growing consumer adoption.

The transmission and distribution business reported profit after tax of ₹492 crore, while EBITDA increased 14% year-on-year to ₹1,541 crore. Odisha DISCOMs reported a profit after tax of ₹111 crore, up 6% from a year ago, and became the first private utility in India to cross one crore registered customers in a single state.

Board Approves ₹4,500 Crore Debt Issuance

Alongside the quarterly results, Tata Power's board approved the issuance of debt securities worth up to ₹4,500 crore through one or more tranches.

The company said the securities, which may include listed and rated non-convertible debentures (NCDs), bonds or other debt instruments, will be issued through private placement to eligible investors. The proceeds will be used, among other purposes, to refinance existing borrowings.

Tata Power Q1 FY2026-27 Results: Management Commentary

Chief Executive Officer and Managing Director Praveer Sinha said India's energy sector is entering the next phase of its transition, with growing focus on reliable round-the-clock clean energy. He said Tata Power is well positioned to benefit from this shift through its integrated renewable energy portfolio spanning solar, wind, battery storage and pumped storage projects.

Sinha said the company invested more than ₹5,000 crore in capital expenditure during the June quarter, providing a strong start to project execution for FY27.

During the post-results media interaction, Sinha outlined Tata Power's plan to invest around ₹40,000 crore in its transmission business by 2030. The plan includes nearly ₹15,000 crore for the Mumbai transmission network, with the remaining investment earmarked for tariff-based competitive bidding (TBCB) projects.

On the nuclear business, he said Tata Power is finalising land parcels in Madhya Pradesh, Odisha and Gujarat, while preliminary geotechnical studies are under way. The company is also in discussions with the Nuclear Power Corporation of India regarding future reactor deployment, subject to the government's regulatory framework.

Sinha added that Tata Power's existing 4.3 GW solar cell and module manufacturing facility is operating at full capacity. Construction of its 10 GW wafer and ingot manufacturing plant in Odisha is expected to begin by October, with the first 5 GW phase targeted for commissioning by January 2028.

He also said Europe's efforts to diversify renewable energy supply chains beyond China could create export opportunities for Indian manufacturers, with Tata Power evaluating exports to Italy.

On thermal operations, Sinha said the 4 GW Mundra power plant resumed operations in April after a nine-month shutdown following the signing of a supplementary power purchase agreement (SPPA) with Gujarat Urja Vikas Nigam. Similar agreements with Punjab, Haryana and Rajasthan are expected by August, while an agreement with Maharashtra is likely by September.

The company also recorded its highest-ever quarterly solar power generation during the period after commissioning 226 MW of renewable capacity. Around 500 MW of projects remain pending due to transmission connectivity delays and are expected to be commissioned shortly. Tata Power's renewable portfolio currently stands at 12 GW, including 5.3 GW under construction.

Tata Power Share Price

Tata Power shares traded 1.27% lower at ₹372.55 on Tuesday, a day after the company reported its Q1 FY2026-27 earnings after market hours.

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