Growth in the quarter was supported by key projects, including Mumbai HVDC, North Karanpura Transmission and Khavda Phase II, which contributed to incremental revenue. Total income, including EPC and service concession income, increased 15%, reflecting higher capex execution and improved performance across segments.
EBITDA rose 5% YoY to Rs 2,372 crore, indicating stable operating performance despite continued investments. Operational EBITDA, which captures core business trends, was higher by 13% YoY.
The company said profitability was driven by strong growth in transmission and smart metering, along with steady performance in the distribution business.
The transmission segment remained the primary contributor, with operating revenue up 7% YoY at Rs 1,286 crore and EBITDA rising 6%. The distribution business saw revenue remain largely unchanged at Rs 2,869 crore, while EBITDA declined 4% YoY, pointing to some pressure in the segment.
Smart metering continued to scale up, with revenue increasing sharply to Rs 215 crore from a low base. EBITDA in this segment also saw a significant rise, reflecting strong execution.During the quarter, the company commissioned multiple transmission projects, including the Mumbai HVDC project, making it the only private player in India to have executed two such projects.It also crossed the milestone of installing over 1 crore smart meters, strengthening its position in digital power infrastructure.
For the full year FY26, total income stood at Rs 28,325 crore, up 15.9% YoY, while net profit rose to Rs 2,393 crore. On an adjusted basis, profit increased 32% YoY after factoring in one-time items in the previous year. EBITDA for the year reached a record Rs 8,726 crore, up 13%, supported by growth across all key segments.
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