Tata Power announced on Tuesday that it has achieved a 31% increase in consolidated net profit, reaching Rs 1,189 crore, compared to the same period last year, driven by operational efficiency.
“This marks the company’s highest ever and 19th consecutive quarter of PAT growth, with a 31% YoY increase to Rs 1,189 crore, thanks to strong operational performance and execution excellence across our generation, transmission & distribution, and renewables businesses,” Tata Power stated.
The statement highlighted that these businesses contributed 84% of the PAT (net profit) in Q1FY25, up from 72% in the same period in FY24.
The consolidated net profit before exceptional items for the quarter ending June 30, 2023, stood at Rs 906 crore. The company’s revenue saw a 12% YoY increase, reaching a record Rs 16,810 crore (up from Rs 15,003 crore in Q1 FY24), while EBITDA grew 11% to Rs 3,350 crore in the reported quarter (up from Rs 3,005 crore in Q1 FY24). EBITDA refers to earnings before interest, taxes, depreciation, and amortization.
“All our businesses have grown profitably due to operational efficiency, execution excellence, and sustained business momentum,” said Praveer Sinha, CEO and Managing Director of Tata Power.
Sinha mentioned that the planned capex for this financial year is Rs 20,000 crore. The company is committed to adopting and leading new and emerging clean energy technologies, including pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors as government policy evolves. Tata Power has recorded a capex investment of Rs 4,000 crore in Q1FY25.
As of Q1FY25, Tata Power has a clean and green installed capacity of 6.1 GW, accounting for 41% of its total capacity, with an additional 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, stands at Rs 15,500 crore. Tata Power aims to secure a 20% market share in the residential rooftop segment, bolstered by its new solar manufacturing facility and robust pan-India channel partner network.
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