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Tata Power Posts Rs 1,401 Crore Q1 FY27 Profit as Renewables, Solar Manufacturing and Grid Businesses Drive Growth

Tata Power has reported a strong financial performance for the first quarter of FY2026-27, with its consolidated Profit After Tax (PAT) rising 11 percent year-on-year to Rs 1,401 crore, supported by robust growth across its renewable energy, transmission and distribution, and solar manufacturing businesses. The company also recorded its highest-ever quarterly capital expenditure, underscoring its continued focus on expanding clean energy infrastructure and strengthening its integrated power portfolio.

For the quarter ended June 30, 2026, Tata Power's consolidated revenue increased 8 percent to Rs 18,898 crore, while EBITDA rose 8 percent to Rs 4,249 crore. The company's core businesses delivered double-digit operational growth, with revenue, EBITDA and PAT increasing by 12 percent, 12 percent and 14 percent, respectively. Improved operational efficiency, higher renewable energy contribution and continued investments in transmission and distribution assets supported the overall performance.

The renewable energy business remained one of the strongest growth drivers during the quarter, with PAT increasing 15 percent year-on-year to Rs 612 crore. Tata Power's renewable energy portfolio has now expanded to 12 GW, comprising 6.7 GW of operational capacity and 5.3 GW under various stages of implementation, reflecting the company's accelerating investment in utility-scale solar, wind and hybrid energy projects across India.

The company's domestic solar manufacturing business also delivered exceptional results. TP Solar achieved its highest-ever quarterly production by manufacturing 1,001 MW of solar modules and 862 MW of solar cells, generating Rs 2,462 crore in revenue during the quarter. Profit from the manufacturing segment surged nearly 3.9 times year-on-year to Rs 371 crore. Tata Power is also moving ahead with its planned 10 GW photovoltaic ingot and wafer manufacturing facility, which will be developed in two phases, further strengthening India's solar manufacturing value chain and reducing dependence on imported components.

In the distributed energy segment, Tata Power continued to expand its rooftop solar business, installing 371 MWp during the quarter, representing 37 percent year-on-year growth. The business generated Rs 1,350 crore in revenue, while cumulative rooftop installations reached 5.2 GWp, serving over 4.8 lakh customers through an extensive network of nearly 3,800 authorised channel partners and retailers. The company has also expanded its offerings by introducing integrated solar-plus-battery storage solutions, reflecting growing demand for reliable decentralised energy systems.

Tata Power's transmission and distribution business also recorded healthy growth, reporting PAT of Rs 492 crore and EBITDA of Rs 1,541 crore, up 11 percent and 14 percent, respectively. During the quarter, the company secured a Letter of Intent for the 491 circuit-kilometre Ryapte intra-state transmission project in Karnataka, involving an investment exceeding Rs 4,000 crore, further expanding its transmission infrastructure portfolio.

Energy storage continued to emerge as a strategic focus area for the company. Tata Power secured a Letter of Award from the Solar Energy Corporation of India (SECI) to supply 324 MW of power for 40 years from its proposed 1,000 MW Bhivpuri Pumped Hydro Storage Project in Maharashtra. The project represents one of India's major long-duration energy storage initiatives and will play an important role in balancing renewable energy generation and improving grid stability. Construction activities, including civil works and electro-mechanical installations, are currently progressing.

The company's power distribution business also maintained strong momentum. Its Odisha distribution companies reported PAT of Rs 111 crore, while becoming the first privately operated utility in India to serve more than one crore registered electricity consumers within a single state. Meanwhile, Tata Power's 4,150 MW Mundra thermal power plant resumed full operations from April 2026 under Section 11 directions issued by the Ministry of Power, which have been extended until September 30, 2026, to support electricity availability during periods of high demand.

Tata Power also continued to strengthen its presence in clean mobility and international renewable energy partnerships. Its EZ Charge network has expanded to more than 2.4 lakh home chargers, over 5,900 public, semi-public and fleet charging points, and 1,200 electric bus charging stations across 717 cities and towns, serving more than six lakh registered users. Internationally, the company advanced its collaboration with Bhutan's Druk Green Power Corporation by signing an agreement for the 404 MW Nyera Amari I & II Hydropower Project, while regulatory approval was also received for long-term power procurement from the 600 MW Khorlochhu Hydropower Project.

India's accelerating energy transition continues to create significant growth opportunities for integrated power companies investing across the renewable energy value chain. With the country targeting 500 GW of non-fossil fuel-based installed power capacity by 2030, increasing investments in solar manufacturing, grid infrastructure, battery storage, pumped hydro projects and electric mobility are expected to play a central role in meeting rising electricity demand while supporting long-term decarbonisation goals. Tata Power's continued investments across these segments reinforce its strategy of building a diversified clean energy portfolio while progressing towards its Net Zero target by 2045.