Reliance Power, part of the Anil Ambani-led Reliance Group, has announced its financial results for the third quarter of FY26. The quarter was challenging for the company due to legal issues and a tough regulatory environment. While day-to-day operations remained stable, profits saw a big drop.
In Q3 FY26, Reliance Power’s consolidated net profit fell 40% to ₹25.22 crore, compared to ₹41.95 crore in the same quarter last year. Revenue from operations showed only a small improvement, rising about 1% year-on-year to ₹1,873 crore from ₹1,852 crore. However, the company’s total income for the quarter declined to around ₹1,949 crore, down from about ₹2,159 crore last year.
The main reason for the fall in profit was lower overall profitability compared to last year. Higher tax expenses during the quarter also reduced the net profit.
Apart from financial numbers, Reliance Power is facing several regulatory and legal challenges. The company’s auditors have raised concerns about its subsidiary, Rajasthan Sun Technique Energy. They said there is “serious uncertainty” about whether the unit can continue operations because of ongoing losses and high debt.
Reliance Power is also being investigated by the Enforcement Directorate (ED) and market regulator SEBI. These probes are related to an alleged fake bank guarantee and a forensic audit ordered by SEBI. Because of these issues, the company’s stock has remained under pressure despite stable operations.
On Friday, Reliance Power shares ended nearly 2% higher at ₹28.30. Still, the overall trend has been weak. The stock has been falling since November and is down around 18% since the start of 2026. Investors are carefully weighing the company’s large power capacity of nearly 6 GW against its heavy debt and ongoing legal troubles.
