Tata Power Co. logged a 9% rise in its consolidated net profit during the June quarter, meeting analysts' projections.
The power supplier logged a consolidated bottom line of Rs 1,059.86 crore in the first quarter, as compared to Rs 970.91 crore in the year-ago period, according to an exchange filing on Friday. In comparison, the consensus estimate of analysts tracked by Bloomberg was of Rs 1,021-crore profit.
Tata Power Q1 FY26 Highlights (Consolidated, YoY)
Revenue up 4.3% at Rs 18,035.07 crore versus Rs 17,293.62 crore (Bloomberg estimate: Rs 17865 crore).
Ebitda rises 15% to Rs 4,139.01 crore versus Rs 3,586.66 crore (Estimate: Rs 3530 crore).
Ebitda margin at 22.9% versus 20.7% (Estimate:19.75 %).
Net profit up 9% to Rs 1,059.86 crore versus Rs 970.91 crore (Estimate: Rs 1021 crore).
In the first quarter, solar rooftop segment has seen a stellar growth with revenue rising twofold to Rs 823 crore. It posted record rooftop solar installation of over 45,500 and commissioned 270 MWp of solar projects in the quarter ended June, up 143% from the 111 MW in the last year.
T&D business profit rose 26% year-on-year to Rs 440 crore. "Our Generation and T&D businesses are delivering impressive gains," said Chief Executive Officer Praveer Sinha.
The quarterly earnings were shared after market hours. The stock settled 2.12% lower at Rs 389.30 apiece on the NSE, compared to a 0.82% decline in the benchmark Nifty 50.
Tata Power's shares have fallen 16.17% in the last 12 months and fallen 0.79% year-to-date.
Out of 23 analysts tracking the company, 12 maintain a 'buy' rating, four recommend a 'hold' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 439.71 implies an upside of 12.9%.
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