GMR Power Q4FY26 Loss of INR 1.1bn Amid Smart Meter Growth

GMR Power reported a consolidated Q4FY26 net loss of INR 1.1bn, contrasting with a profit of INR 1.8bn in Q4FY25, despite an 11% YoY revenue increase to INR 20.7bn.
Smart metering business drove revenue growth with INR 5.2bn in Q4, contributing to a 13% FY26 revenue increase to INR 77.5bn, while energy assets saw reduced LPS income.
The company acquired additional stake in GMR Kamalanga Energy, increasing ownership to 100%, and installed ~39 lakh smart meters as of April 2026 across UP discom projects.
Net debt increased by INR 0.8bn QoQ to INR 91.6bn, with significant overdue receivables of ~INR 6.8bn from energy and DFCC projects excluding litigation claims.