Power - Electric Utilities company NAVA announced Q1FY26 results Total income: Rs 1,232.6 crore, up 16.7% quarter-on-quarter (QoQ) and marginally lower by 2.0% YoY. Net profit: Rs 399.1 crore, up 31.8% QoQ and lower by 10.5% YoY. The average tax rate is higher, as profits from the power division of MEL are subject to tax at 15% from Q1FY26. Maamba Energy (MEL): Received arrears of USD 75.0 million, reducing outstanding receivables to USD 85.5 million. Sponsors received maiden dividend from MEL, with the Nava group receiving USD 32.5 million as its share. Projects: MEL’s Phase II 300 MW expansion and MSEL’s 100 MW solar project in Zambia are on track for scheduled commissioning in Q2FY27. Ashwin Devineni, Managing Director & CEO, said: “We are pleased to report our highest-ever quarterly PBT, driven by strong operations across our energy portfolio and improved realisations in the metals business. The 50% tax concession regime applicable to the power division under MEL impacted the PAT for the quarter. The resolution of a substantial portion of MEL’s receivables and the receipt of its maiden dividend are significant steps in further strengthening our cash position. Our strategic projects from renewable energy in Zambia to commercial agriculture in Africa are progressing as planned, positioning us for sustainable growth. The planned conversion of our captive power assets to IPPs will further enhance operational efficiency. We remain committed to disciplined capital allocation, operational excellence, and the timely execution of our growth plans to create enduring value for all stakeholders.” Result PDF