Tata Power Q2 net profit rises 48.6% to ₹1,366 crore on one time gain; revenue up 27%

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The company attributed the growth to the performance of its Mundra operations, renewables business, Mumbai transmission business and Odisha distribution companies.

Tata Power Company reported a 48.6% year-on-year rise in net profit to ₹1,366 crore for the second quarter of FY27, compared with ₹919 crore in the year-ago period on one-time gain of ₹119.2 crore. Revenue increased 27.1% to ₹19,636 crore from ₹15,444 crore.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose 11.1% to ₹3,667 crore from ₹3,302 crore a year earlier. However, EBITDA margin declined to 18.7% from 21.2% in the corresponding quarter last year.

The company attributed the growth to the performance of its Mundra operations, renewables business, Mumbai transmission business and Odisha distribution companies.

In its generation and coal cluster, EBITDA growth was supported by the Mumbai generation business, Mundra operations, MPL's flue gas desulphurisation (FGD) contribution and higher merchant margins at Haldia Power Plant.

Tata Power reported a half-yearly capital expenditure of around ₹10,000 crore in H1 FY27. It added 539 MW of generation capacity during the quarter, taking the capacity addition for the first half of FY27 to 765 MW.

In solar manufacturing, the company produced 1,000 MW of modules and 906 MW of cells during Q2FY27. Plant yield stood at 97% for modules and 87% for cells. Revenue from the business rose 23% year-on-year to ₹2,180 crore, while EBITDA increased 11% to ₹512 crore and profit after tax rose 16% to ₹276 crore.

Tata Power said the improvement in solar manufacturing profitability was driven by input cost efficiency and a diversified sales mix. Around 40% of modules and 55% of cells manufactured during the quarter were sold to external customers.

The company also commissioned 419 MW of utility-scale in-house renewable energy projects, taking its total installed renewable energy capacity to 7.2 GW. Its rooftop business recorded billing of 426 MWp, up 15% year-on-year.

Other operational highlights included the commissioning of the 120 MW waste heat recovery plant by IEL, fully tied up with a commercial and industrial…

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