Tata Power on Tuesday reported a fall in revenue in Q4 of FY26, due to its Mundra Power plant remaining closed during the quarter, though strong execution across renewables, transmission and distribution helped offset the decline to some extent.
The company reported 12.8 per cent fall in revenue from operations to ₹14,900 crore, while net profit fell 4.5 per cent to ₹996 crore.
The company had supplied power from the Mundra plant up to June 30, 2025, based on the directions of the Ministry of Power. From July 3, the plant’s operations were suspended to resolve technical issues. On March 23, 2026 it signed a supplementary power purchase agreement with Gujarat Urja Vikas Nigam to supply power with revised tariffs. Plant operations have commenced from April 1.
Operationally, the quarter was driven by the continued ramp-up of clean energy assets, solar manufacturing and distribution gains, with the core business delivering 13 per cent PAT growth in Q4. The company said EBITDA rose 10 per cent to ₹4,216 crore, underscoring improved operating efficiency.
Its renewable business posted PAT of ₹406 crore in the quarter and ₹1,994 crore for the year, up 59 per cent, supported by higher capacity additions and strong execution in solar manufacturing and rooftop solar.
The company said its solar cell and module manufacturing arm reported PAT of ₹265 crore in Q4 and ₹857 crore in FY26, more than doubling year on year, helped by an industry-leading yield of over 95 per cent.
Rooftop solar also remained a major growth engine, with PAT rising 94 per cent in the quarter to ₹186 crore and 150 per cent for the year to ₹499 crore, as Tata Power crossed 3.7 lakh installations and 4.8 GWp of cumulative capacity.
In transmission and distribution, PAT came in at ₹949 crore in Q4 and ₹2,978 crore in FY26, up 54 per cent and 49 per cent respectively, while Odisha DISCOMs posted PAT of ₹304 crore in the quarter and ₹809 crore for the year.
Tata Power said its transmission portfolio now stands at 7,403 circuit kilometres, and it completed two major TBCB projects during the year.
Full-year profit
For the full year, the company reported a 5.6 per cent fall in net profit to ₹3,747 crore while revenue was 4.7 per cent lower at ₹62,429 crore.
Chief executive and Managing Director Praveer Sinha said the results reflected sustained focus on long-term value creation, clean energy expansion and operational excellence. He added that Tata Power’s strategy around rooftop solar, manufacturing self-reliance and deeper integration would support future-ready energy systems as demand rises.
For FY26, the company supplied 49.52 billion units of electricity to the grid and its discoms supplied about 47.92 billion units to consumers, reinforcing the scale of its integrated power business.