Tata Power Q3 Profit Surges Past Estimates; Record Solar Output Despite Revenue Dip

• Tata Power reported a net profit of ₹1,194 crore in Q3, exceeding street estimates of ₹971 crore, a slight increase from ₹1,187 crore year-on-year.
• Revenue declined 9.4% to ₹13,948 crore, missing estimates, and EBITDA fell 9% to ₹3,055 crore, with an EBITDA margin of 21.9%.
• The company commissioned 919 MW of utility-scale renewable projects and added 357 MW of in-house capacity during the quarter.
• Manufacturing operations achieved record output with 962 MW of solar cells and 990 MW of modules, boosting revenue by 26% and doubling profit due to lower input costs.
• Tata Power expanded its EV charging network to 5,743 points and saw Odisha DISCOMs' profit after tax surge by 163%.