Tata Power Q2 profit rises 14 pc to Rs 1,245 cr; to set up 10GW wafer project

New Delhi, Nov 11 (PTI) Tata Power on Tuesday reported a 14 per cent rise in consolidated net profit to Rs 1,245 crore in September quarter, helped by increased revenues, and the company announced plans to set up a 10 GW wafer and ingot project.

About its nuclear power projects, Tata Power said it is waiting for the legal amendments and will progress accordingly.

In a media call, the company's CEO and MD Praveer Sinha said at present Tata Power is in the process of evaluating sites for the planned project.

"As far as our backward integration is there, we have plans to set up a 10 gigawatt wafer and ingot plant. We are deciding on the location of the plant and the technology and hopefully we will be in a position to finalize it," he said.

About plans to expand module capacity, Sinha said the company has adequate capacity of modules and cell plants under construction.

Tata Power has reported a net profit of Rs 1,245 crore in Q2, up from Rs 1,093 crore in the July-September quarter of FY25.

The company saw its revenue growing to Rs 15,769 crore, up 3 per cent from Rs 15,247 crore in July-September period of FY25.

Tata Power said its EBITDA (pre-tax earnings) rose 6 per cent to Rs 4,032 crore from Rs 3,808 crore.

The MD said: "Tata Power has reported a robust performance in Q2FY26 and H1FY26, reflecting the strength of strategic initiatives and decisions taken by company towards its integrated and diversified business model." Replying to another question, Sinha said, "With proposed amendments to the Electricity Act, Tata Power is well positioned to expand its distribution footprint to 40 million consumers by 2030." Tata Power said it is very well positioned to expand further with 10 GW of clean capacity under construction including a healthy pipeline of 5 GW hybrid and FDRE (firm and dispatchable renewable energy) projects.

The company's backward-integrated solar manufacturing facilities are operating at full capacity, with ALMM listed modules and cells supporting the "Make in India" clean energy push.

On plans for nuclear projects, he said, "...we have looked at a few potential sites in different states. So, that's a work in progress." Tata Power is waiting for the legal amendments and progress accordingly over the nuclear plans.

Tata Power Company Limited, a leading integrated power company and part of the Tata Group, owns a diversified portfolio of 15.9 GW. PTI ABI HVA