Tata Power shares fall 2% on Q1 show, brokerages remain bullish

Tata Power posted a net profit of Rs 1,060 crore for the June quarter, up 9 percent YoY from the Rs 971 crore in the same period last year.

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Tata group firm Tata Power Company’s shares tumbled over two percent in trade on Monday, August 4, after reporting its earnings results for the April-June period of FY2026.

Tata Power reported a net profit of Rs 1,060 crore for the first quarter, marking an on-year rise of more than 9 percent from the Rs 971 crore net profit reported in the corresponding quarter of the financial year 2025.

The firm’s revenue from operations meanwhile rose 4 percent on-year to Rs 18,035 crore in Q1 FY26. The company had earlier reported revenue from operations at Rs 17,294 crore in Q1 FY25.  Tata Power reported that its EBITDA rose 17 percent on-year to Rs 3,930 crore during the quarter.

The firm’s profit after tax generated from the renewables business surged 95 percent on-year to Rs 531 crore. It commissioned 94 MW RE capacity in Q1 FY26, taking the total operational renewable capacity to 5.6 GW.

At 9.50 a.m., shares of the firm were quoting Rs 383.5, lower by 1.5 percent.

ICICI Securities maintained its ‘buy’ rating, with a price target of Rs 465 per share. The brokerage said, “Tata Power has been integrating a diverse set of businesses in its portfolio. From a conventional thermal power and integrated Mumbai distribution business, it has come a long way in building its renewable pack – a trifecta of solar manufacturing, solar EPC and RE generation. Moreover, it has turned around Odisha discoms. Its new businesses are now contributing significantly to growth.”

JM Financial said Tata Power exceeded both its and Street expectations, benefiting from its integrated operations. “Looking ahead, the company’s leadership in expanding rooftop solar, the operationalization of integrated solar cell-module manufacturing, the commencement of work on the 1,000 MW Bhivpuri pumped hydro storage plant, continued strong performance in Odisha, and the likely signing of a PPA for Mundra will drive the company’s future performance.”

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