CESC Q3FY26 Consolidated Revenue Up 12% to ₹4,099 Cr; PBT Rises to ₹385 Cr
CESC's Q3 FY26 consolidated revenue rose 12% to ₹4,099 crore, with PBT increasing to ₹385 crore. 9MFY26 revenue grew 10.4% to ₹14,735 crore. The company secured new renewable energy projects totaling 480 MW. CESC plans to expand its renewable capacity to 3.2 GW by FY29 and 10 GW by FY32.
The financial results show positive growth, and the expansion into renewable energy and manufacturing indicates future growth potential. However, the immediate impact on the stock price may be moderate as these are updates and not immediate earnings catalysts.
The company reported increased revenue and profit before tax for both the quarter and the nine-month period, along with progress in securing new renewable energy projects and strategic expansion into manufacturing.
CESC Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025 (Q3 FY26 and 9MFY26). The company reported a consolidated revenue of ₹4,099 crore for Q3 FY26, marking a 12% increase from ₹3,657 crore in Q3 FY25. Consolidated Profit Before Tax (PBT) grew to ₹385 crore from ₹362 crore in the same period last year.
For the nine months ended December 31, 2025 (9MFY26), consolidated revenue increased by 10.4% to ₹14,735 crore, and consolidated PBT rose to ₹1,466 crore from ₹1,316 crore in 9MFY25.
The company highlighted significant savings in variable costs for fuel and power procurement, alongside a continuous focus on reducing transmission and distribution (T&D) losses. Noida Power (NPCL) reported sales of 820 Million Units (MU) in Q3 FY26, a 6% year-on-year growth, with revenue increasing by 9.4% to ₹673 crore and EBITDA rising to ₹103 crore.
Purvah Green won two renewable energy projects during the quarter: a 300 MW Solar + Battery Energy Storage System (BESS) project under SECI auction at a tariff of ₹2.86/kWh and a 180 MW Round-the-Clock (RTC) Renewable Energy (RE) project at a tariff of ₹4.35/kWh.
CESC aims to increase its renewable energy capacity to 3.2 GW by FY29 and 10 GW by FY32. The company is making significant progress in its renewable energy pipeline, with various solar and hybrid projects under implementation, targeting full commissioning of the first phase of 3,200 MW by March 2029. This involves a capital expenditure of approximately ₹14,800 crore, expected to generate annualized revenue of around ₹2,100 crore.
Furthermore, CESC is strategically entering cell and module manufacturing by setting up a solar cell manufacturing complex in Greater Noida, with cell lines scheduled for commissioning in 2027. The company also provided updates on its generation assets and distribution network performance across its various subsidiaries.
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CESC Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by CESC Limited. Read the original for the full detail.