Tata Power on Friday posted over 6% on-year rise in consolidated net profit at ₹1,262 crore in June quarter mainly due to higher revenues from the renewable as well as transmission and distribution business.
The company had a net profit of ₹1,189 crore in the quarter ended June 30, 2024, a statement stated.
Its revenue rose to ₹17,464 crore in the quarter, from ₹16,810 crore in the same period a year ago.
"We have commenced FY26 on a high note, with strong performance across all our business verticals. Our renewable energy portfolio continues to exceed expectations, as we drive innovation, scale, and efficiency across the clean energy value chain," Praveer Sinha, CEO and Managing Director, Tata Power, said.
He further stated that the generation and T&D businesses are delivering impressive gains.
The company's discoms are providing reliable electricity to 13 million customers, he added.
Through its all-round performance, Odisha Discoms have emerged as the national model of Discom reforms, he noted.
In-line with its target to reach 40 million customers by 2030, the company has applied for a license to expand its distribution footprints in key growth areas of Maharashtra.
"We are proud to contribute towards India's energy transition with a generation portfolio exceeding 26 GW (including projects under development), over 65 per cent of which comes from clean, green sources," he added.
It commissioned 652 MW of projects in Q1 including 94 MW of its own portfolio and 560 MW of 3rd party EPC (engineering procurement construction).
Total utility-scale operational renewable energy capacity stands at 5.6 GW (4.6 GW solar and 1 GW wind) and plans to add 1.6 GW during the next three quarters of FY26.
The company achieved a record rooftop solar installation of 270 MWp in Q1 FY26.
Total installations above 2 lakh and cumulative capacity above 3.4 GWp.
The company sold 107 MW of modules and 54 MW of cells to third parties in Q1 FY26 and the order value of ₹1,303 crore.
In the transmission segment, it is currently focusing on six projects, which aggregate to more than 2,400 circuit kilometer (Ckm), helping it reach over 7,000 operational Ckm by 2027.
The company has applied for expansion of electricity distribution license in Maharashtra and targets key growth areas including parts of Thane, Navi Mumbai, Panvel, Pune, Nashik and Chhatrapati Sambhaji Nagar.
It has achieved the milestone of installing 30 lakh smart meters across India in Q1FY26.
Tata Power Company Ltd, a leading integrated power company and a part of the Tata Group, India's largest multinational business conglomerate, owns a diversified portfolio of 15.8 GW.
Tata Power has 7 GW of clean energy generation, constituting 44 of its total capacity.
