Tata Power Q2 Results: Revenue Dips on YoY, H1 Profit Rises 9.9%

Tata Power today announced its financial results for the second quarter (Q2) of the financial year 2025–26. The latest data released by the company shows a decline in revenue, both on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis.

However, it reported a 1.8% growth in revenue for the first half (H1). The company’s total consolidated revenue stood at ₹15,544.91 crore in Q2 FY26, compared to ₹18,035.07 crore in Q1 FY26 and ₹15,697.67 crore in Q2 FY25. Thus, on a YoY basis, the firm reported a 0.9% dip in revenue, and on a QoQ basis, a 13.8% decline.

In terms of net profit (Profit After Tax, or PAT), the company reported a total PAT of ₹1,245.39 crore in Q2 FY26, compared to ₹1,262.32 crore in Q1 FY26 and ₹1,093.08 crore in Q2 FY25. This represents a 13.9% increase in PAT on a YoY basis but a 1.3% decline on a QoQ basis.

Meanwhile, Tata Power reported a 9.9% growth in profit for H1. The company’s total PAT for H1 FY26 stood at ₹2,507.71 crore, compared to ₹2,281.71 crore in H1 FY25.

Business Highlights – Q2 FY26

Renewables

Tata Power Renewable Energy Ltd (TPREL) reported total utility-scale capacity of 5.7 gigawatts (GW), including 4.7 GW of solar and 1 GW of wind assets. During the quarter, it commissioned 293 megawatts (MW) of renewable capacity, comprising 111 MW of its own projects and 182 MW through third-party engineering, procurement and construction (EPC) contracts.

The company also signed a strategic partnership with Suzlon Group for the supply of 838 MW of wind turbine generators to be deployed across upcoming projects in multiple Indian states.

Rooftop Solar

Tata Power’s Solar EPC and Battery Storage rooftop solar business installed 370 megawatt-peak (MWp) during the quarter, maintaining its leadership with more than 270,000 installations and cumulative capacity exceeding 3.8 GWp. Segment revenue more than doubled to ₹1,133 crore in Q2 FY26, marking a 158% YoY growth.

Solar EPC and Battery Storage

TPREL secured several key EPC and energy storage contracts, including Tata Power Distribution’s 100 MW/200 MWh battery energy storage system (BESS) project worth about ₹299 crore, NTPC Khavda’s 300 MW balance-of-system project valued at ₹521 crore, and its first Battery Energy Storage Purchase Agreement (BESPA) with NHPC for a 30 MW/120 MWh system in Kerala.