Tata Power logs 31% rise in net profit in June quarter
NEW DELHI: Tata Power on Tuesday said it has logged 31% rise in consolidated net profit at ₹1,189 crore, compared to the year-ago period, on back of operational efficiency.
“At ₹1,189 crore, growing 31% YoY (year-on-year), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission & distribution, and renewables,” Tata Power said in a statement.
According to the statement, these businesses contributed 84% of the PAT (net profit) in Q1FY25, compared to 72% in the same period in FY24.
The statement showed that the consolidated net profit before exceptional items was ₹906 crore in the quarter ended June 30, 2023.
The company’s revenue rose 12% y-o-y to a record high of ₹16,810 crore (from ₹15,003 crore in Q1 FY24), and EBITDA grew 11% to ₹3,350 crore in the reported quarter (from ₹3,005 crore in Q1 FY24).
Ebitda refers to earnings before interest, taxes, depreciation, and amortization.
“All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum,” said Praveer Sinha, CEO and Managing Director, Tata Power.
He informed that the planned capex for this financial year is ₹20,000 crore and the company is committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors as the government policy evolves.
The company has recorded a capex investment of ₹4,000 crore in Q1FY25.
It has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41% of the capacity, with another 5.3 GW under execution.
The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is ₹15,500 crore.
Tata Power is poised to garner 20% market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, it said.
THE COMPANY HAS A CLEAN AND GREEN INSTALLED CAPACITY OF
6.1 GW AS OF Q1FY25, WHICH IS 41% OF ITS TOTAL CAPACITY