Mumbai, Feb 4 (NationPress) Tata Power revealed a 25% year-on-year (YoY) drop in consolidated net profit attributed to equity holders, reaching Rs 772 crore for the October–December quarter (Q3) of FY26, a decline from Rs 1,031 crore in the same timeframe last fiscal year (Q3 FY25).

This downturn was attributed to lower revenues and stagnant power demand during the quarter.

The company's revenue from operations decreased by 9% to Rs 13,948.41 crore in Q3 FY26, down from Rs 15,391.06 crore in the previous year’s quarter, as per its stock exchange filing.

Total expenses also saw a decrease of around 6% YoY, amounting to Rs 13,465.06 crore, according to its regulatory filing.

Tata Power reported a one-time exceptional expense of Rs 78 crore due to the initiation of new labor codes that took effect last year.

Power demand during this quarter showed no growth, contrasting with a 7% increase in the same period of the previous financial year.

Nonetheless, on an adjusted basis, the company indicated a 1% increase in profit after tax to Rs 1,194 crore.

The company’s EBITDA rose by 12% to Rs 3,913 crore during the quarter, showcasing operational strength across its key segments.

Praveer Sinha, CEO and Managing Director of Tata Power, stated that the third quarter highlighted robust execution and performance across generation, transmission, distribution, renewables, and manufacturing sectors.

He noted that the company surpassed 10 GW in cumulative renewable EPC execution and achieved record outputs for solar cells and modules with industry-leading yields. Additionally, rooftop solar installations exceeded 4 GWp.

Sinha mentioned that Tata Power now serves over 13 million distribution customers across India, making it the largest private utility by customer base.

He emphasized that the company's Odisha discoms exhibited strong financial and operational results, receiving A+ and A grades in the Ministry of Power’s 14th Integrated Ratings.

In the transmission domain, Tata Power initiated critical projects aimed at bolstering green energy corridors.

The firm also acquired World Bank financing for Bhutan’s largest public-private partnership hydropower initiative, further expanding its clean energy portfolio and regional collaboration.

Looking ahead, Sinha expressed that the company’s performance over the past nine months positions it favorably as it enters 2026.

He pointed to positive macroeconomic conditions and increased power demand driven by manufacturing growth, urbanization, and AI-led digital infrastructure.

Sinha concluded that Tata Power remains committed to responsibly scaling clean energy capacity, enhancing system resilience, and ensuring long-term, sustainable growth.