Tata Power Q2 profit rises 14% YoY to ₹1,245 cr; targets 10 GW clean energy capacity expansion

Tata Power Company reported a robust set of numbers for the quarter ended September 2025, backed by broad-based growth across conventional generation, renewables, and distribution businesses.

The integrated power company of the Tata Group reported consolidated profit after tax of ₹1,245 crore in Q2 FY26, growing by 14% year-on-year (YoY) from ₹1,093 crore in the same period last year.

Revenue for the quarter grew 3% YoY to ₹15,769 crore, while EBITDA rose 6% to ₹4,032 crore, the company said in an exchange filing.

For the first half of FY26 (H1 FY26), Tata Power’s revenue stood at ₹33,233 crore, up 4% YoY, while EBITDA climbed 11% to ₹7,961 crore. The profit grew 10% to ₹2,508 crore as compared to the same period last year.

“Tata Power has reported a robust performance in Q2FY26 and H1FY26, reflecting the strength of strategic initiatives and decisions taken by the Company towards its integrated and diversified business model. Growth continues across conventional generation, clean energy, and consumer-focused distribution,” said Praveer Sinha, CEO & Managing Director.

Gears up for 10 GW green capacity

Tata Power is very well positioned to expand further with 10 GW of clean capacity under construction, including a healthy pipeline of 5 GW Hybrid and FDRE projects, said Sinha.

He said that the Company’s backward-integrated solar manufacturing facilities are operating at full capacity, with ALMM-listed modules and cells supporting the ‘Make in India’ clean energy push.

“The rooftop solar segment continues to lead the industry with record installations, while our Discoms drive service excellence across a growing customer base of over 13 million.”

With proposed amendments to the Electricity Act, Tata Power is well positioned to expand its distribution footprint to 40 million consumers by 2030, he added.

Renewables segment leads growth

The company’s renewables business delivered stellar performance in the quarter, with segment PAT up 70% YoY to ₹511 crore, EBITDA up 57% to ₹1,575 crore, and revenue up 89% to ₹3,613 crore, driven by strong gains from solar manufacturing and rooftop solutions.

During the quarter under review, Tata Power’s solar manufacturing arm achieved an output of 928 MW of solar cells and 970 MW of modules, including a record dispatch of 809 MW of DCR modules — the highest ever in a single quarter. The company’s TP Solar division earned the Bloomberg NEF Tier-1 manufacturer status, enhancing global export prospects from its 4.3 GW Tirunelveli facility, which is also listed under ALMM List II.

The rooftop solar business continued to scale new highs, with an order book of ₹1,116 crore and a Pan-India network of 644 channel partners and over 2,000 retailers.

Meanwhile, Tata Power’s transmission business PAT rose 41% YoY to ₹120 crore in Q2 FY26, while the distribution segment PAT grew 34% YoY to ₹557 crore, supported by strong operational performance and network expansion. The company is exploring upcoming opportunities in power distribution in Maharashtra, Goa, and Uttar Pradesh.

The release noted that Tata Power commenced construction of the 600 MW Khorlochhu Hydro Project in Bhutan, in which it holds a 40% stake as part of a 5 GW clean energy partnership. The project has secured a ₹4,829 crore loan agreement with the Power Finance Corporation (PFC).

In India, the company also began work on the 1,000 MW Bhivpuri Pumped Storage Project (PSP) in Maharashtra, which will enable firm, dispatchable renewable power supply to the grid.