As per the company's press release, Tata Power reported a profit after tax (PAT) (before exceptional items) on a consolidated basis of ₹1,533 crore, up 51% year-on-year (YoY).

Tata Power shares: 

Tata Power on Wednesday, October 30, reported its financial results for the quarter ended September 30, 2024 (Q2 FY25). 

As per the company's press release, Tata Power reported a profit after tax (PAT) (before exceptional items) on a consolidated basis of ₹1,533 crore, up 51% year-on-year (YoY).

Consolidated EBITDA during the quarter rose 23% YoY to ₹3,808 crore on the back of ramped-up solar manufacturing, favorable regulatory development in distribution, and operational efficiency across businesses, it said. 

Revenue for the period came in at ₹15,247, down 1% YoY from ₹15,442 logged in the year-ago period.

Further, the company added that it clocked its highest-ever half-yearly revenue, EBITDA, and PAT before exceptional items at ₹32,057 crore, ₹7,158 crore, and ₹2,721 crore, respectively.

Tata Power said it has a strong and well-diversified order book of ₹15,900 crore in the solar EPC business. 

Its clean and green portfolio crosses around 12.9 GW (6.4 GW operational, 6.5 GW under construction), while the transmission portfolio now stands at 7,049 circuit kilometer (Ckm), including 4,633 Ckm commissioned and 2,416 Ckm under construction.

It also said that it incurred capex of nearly ₹5,200 crore in Q2FY25 to tap growth opportunities; H1FY25 capex stands at ₹9,100 crore against the full-year plan of nearly ₹20,000 crore.

Dr. Praveer Sinha, CEO and Managing Director of Tata Power, said, “Our Generation, Transmission & Distribution, and Renewable businesses continue to witness sustained growth momentum as India sees record power demand and investment in the new Age of Electricity. All our business segments have performed remarkably well during the quarter, leading to 20th consecutive quarterly PAT growth."

The CEO added, “We have made significant strides in the transmission business with major wins in both interstate and intrastate projects, showcasing our strong project execution capabilities in upgrading grid infrastructure. These projects will help evacuate clean energy from remote renewable sites to support widescale renewable energy availability.”

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Published on October 31, 2024, 09:20 IST