Compared to the year-ago period, on the back of operational efficiency, Tata Power reported a 31 per cent rise in consolidated net profit at Rs 1,189 crore on Tuesday.
Tata Power said in a statement, "At Rs 1,189 crore, growing 31 per cent 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."
Furthermore, as per the statement, these businesses contributed 84 percent of the PAT (net profit) in Q1FY25. In FY24, it was 72 percent in the same period. Also, the statement showcased that in the quarter that ended on June 30, 2023, the consolidated net profit before exceptional items was INR 906 crore.
The company's revenue witnessed an upsurge of 12 percent YoY to a record high of Rs 16,810 crore from INR 15,003 crore in Q1 FY24. And if we look at EBITDA, it grew 11 percent to INR 3,350 crore in the reported quarter from INR 3,005 crore in Q1 FY24. "All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum," highlighted Praveer Sinha, CEO and Managing Director, Tata Power.
Moreover, he informed that the planned capex for this financial year is INR 20,000 crore, wherein, the company is committed to integrating and leading the new and emerging clean energy technologies. This will include pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors. This would be in tandem with the evolution in government policy.
Adding to this, the company has also recorded a capex investment of INR 4,000 crore in Q1FY25. As of Q1FY25, it has a clean and green installed capacity of 6.1 GW, accounting for 41 percent of the capacity, with another 5.3 GW under execution. And including group captive, the combined order pipeline for utility-scale EPC and solar rooftop is INR 15,500 crore.
Going forward, Tata Power is poised to drive 20 percent market share in the residential rooftop segment which would be backed by its new solar manufacturing facility and strong pan-India channel partner network.
