Tata Power Co. Ltd. Q3 FY2026 results: revenue ₹13,948 crore, down 9.4% on the year
Tata Power Co. Ltd. (TATAPOWER) reported consolidated revenue from operations of ₹13,948 crore for Q3 FY2026, the quarter ended 31 December 2025, down 9.4% on the same quarter a year earlier. Profit after tax was ₹1,194 crore, up 0.6% on the year, and earnings per share ₹2.41. The figures are the company's own, from the un-audited results it filed with NSE on 4 February 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 13,948 | 15,545 | 15,391 | -9.4% |
| Other income | 321 | 505 | 402 | -20.3% |
| Total income | 14,269 | 16,050 | 15,793 | -9.7% |
| Cost of materials consumed | 2,036 | 2,169 | 1,450 | +40.4% |
| Purchases of stock-in-trade | 15 | 13 | 7 | +99.6% |
| Changes in inventories | 170 | -221 | -418 | n/a |
| Employee benefit expense | 1,196 | 1,102 | 1,058 | +13.1% |
| Finance costs | 1,364 | 1,319 | 1,170 | +16.6% |
| Depreciation, depletion and amortisation | 1,208 | 1,162 | 1,041 | +16.0% |
| Other expenses | 1,834 | 1,785 | 9,941 | -81.6% |
| Total expenses | 13,465 | 14,724 | 14,249 | -5.5% |
| Profit before exceptional items and tax | 804 | 1,327 | 1,544 | -47.9% |
| Exceptional items | 0 | 0 | 0 | n/a |
| Profit before tax | 804 | 1,327 | 1,544 | -47.9% |
| Current tax | 327 | 210 | 185 | +76.6% |
| Deferred tax | 18 | 224 | 84 | -78.2% |
| Total tax | 345 | 435 | 269 | +28.3% |
| Profit after tax | 1,194 | 1,245 | 1,188 | +0.6% |
| Attributable to owners of the parent | 772 | 919 | 1,031 | -25.1% |
| Other comprehensive income | -148 | 411 | 145 | n/a |
| Total comprehensive income | 1,046 | 1,657 | 1,333 | -21.5% |
| EPS, basic | ₹2.41 | ₹2.88 | ₹3.22 | -25.2% |
| EPS, diluted | ₹2.41 | ₹2.88 | ₹3.22 | -25.2% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 1.63 | 1.58 | 0.01 | |
| Debt service coverage | 1.71 | 1.78 | 0.01 | |
| Interest service coverage | 2.21 | 2.37 | 0.02 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Thermal & Hydro | 2,022 | 13.0% | 224 | 11.1% |
| Renewables | 3,785 | 24.4% | 1,161 | 30.7% |
| Transmission and Distribution | 9,626 | 62.0% | 1,298 | 13.5% |
| Others | 104 | 0.7% | -10 | -9.8% |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 15,738 | 14,651 | 15,847 | 17,294 | 15,698 | 15,391 | 17,096 | 18,035 | 15,545 | 13,948 | 14,900 | 19,051 |
| Expenses | 14,755 | 14,254 | 15,691 | 15,856 | 14,082 | 14,249 | 16,180 | 16,336 | 14,724 | 13,465 | 14,876 | 17,705 |
| Operating profit | 3,091 | 2,417 | 2,332 | 3,587 | 3,745 | 3,353 | 3,246 | 4,139 | 3,302 | 3,055 | 2,599 | 4,013 |
| OPM % | 20% | 17% | 15% | 21% | 24% | 22% | 19% | 23% | 21% | 22% | 17% | 21% |
| Other income | 292 | 643 | 617 | 247 | 513 | 402 | 351 | 362 | 505 | 321 | 555 | 388 |
| Interest | 1,182 | 1,094 | 1,136 | 1,176 | 1,143 | 1,170 | 1,213 | 1,279 | 1,319 | 1,364 | 1,295 | 1,407 |
| Depreciation | 926 | 926 | 1,041 | 973 | 987 | 1,041 | 1,116 | 1,161 | 1,162 | 1,208 | 1,280 | 1,260 |
| Exceptional items | 0 | 0 | 39 | 0 | -140 | 0 | 18 | 0 | 0 | 0 | -94 | 0 |
| Profit before tax | 1,275 | 1,040 | 811 | 1,685 | 1,988 | 1,544 | 1,285 | 2,061 | 1,327 | 804 | 485 | 1,735 |
| Tax % | 17% | 40% | 61% | 18% | 34% | 17% | 23% | 17% | 33% | 43% | 79% | 24% |
| Net profit | 1,017 | 1,076 | 1,046 | 1,189 | 1,093 | 1,188 | 1,306 | 1,262 | 1,245 | 1,194 | 1,416 | 1,401 |
| EPS in ₹ | ₹2.74 | ₹2.98 | ₹2.79 | ₹3.04 | ₹2.90 | ₹3.22 | ₹3.26 | ₹3.31 | ₹2.88 | ₹2.41 | ₹3.12 | ₹3.68 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 4 February 2026: the result statement. All of Tata Power Co. Ltd.'s results: NSE company page.
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