Reliance Power Limited has announced its consolidated financial results for the third quarter ended December 31, 2025, showing strong operational performance with significant EBITDA growth and margin expansion, despite a decline in net profit. The Anil Ambani-led power generation company also made key senior management appointments during the quarter.

Q3 FY26 Financial Performance

The company delivered robust operational metrics with substantial EBITDA improvement and margin expansion:

The company's EBITDA performance demonstrates strong operational efficiency with margins expanding by 572 basis points year-on-year. Total income for the quarter stood at ₹1,94,978 lakhs compared to ₹2,15,944 lakhs in the corresponding period last year.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company reported revenue from operations of ₹5,73,245 lakhs compared to ₹5,60,488 lakhs in the corresponding period last year, marking a growth of 2.28%. The improved EBITDA margins reflect better cost management and operational efficiency across the company's power generation assets.

Senior Management Appointments

The Board of Directors approved strategic senior management appointments to strengthen operational capabilities:

Shri Sudhakar Tandon brings over 37 years of extensive experience in the power sector, with expertise in P&L management, power plant operations, and business development. He has previously worked with reputed organizations including Tata Power, Torrent Power, NTPC, and Adani Power.

Operational and Cost Management

The company's consolidated results show total expenses of ₹1,84,965 lakhs for Q3 FY26, with cost of fuel consumed being the major component at ₹92,048 lakhs. Finance costs decreased significantly to ₹37,126 lakhs from ₹54,416 lakhs in the corresponding quarter last year, indicating improved debt management and contributing to the enhanced EBITDA performance.

Shri Abhimanyu Das has about 18 years of experience in the power sector, spanning business development, regulatory affairs, and project management. His association with Reliance Power spans over 15 years, and he holds expertise in power purchase agreements and contract management.

Reliance Power Limited has informed stock exchanges that the Securities and Exchange Board of India (SEBI) has initiated a forensic audit of the company. The disclosure was made on January 14, 2026, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Regulatory Action Details

The forensic audit has been initiated in relation to alleged violations of multiple regulatory frameworks. The company's disclosure indicates that SEBI is investigating potential breaches across three key pieces of legislation.

Company Communication

The disclosure was communicated to both major stock exchanges where Reliance Power Limited shares are listed. The company maintains its registered office at Reliance Centre, Ground Floor, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai.

Official Documentation

The regulatory disclosure was signed by Company Secretary Ramandeep Kaur and digitally authenticated on January 14, 2026, at 23:11:35 +05'30'. The communication was addressed to both BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai, and National Stock Exchange of India Limited at Exchange Plaza, Bandra Kurla Complex.

Compliance Framework

The disclosure falls under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, which mandates companies to inform stock exchanges about material events and information that could impact investor decisions. The company has fulfilled its regulatory obligation by promptly notifying the exchanges about the forensic audit initiation.