MUMBAI: Tata Power, one of India’s largest integrated power companies, reported 31 per cent year on year growth in its first quarter net profit from Rs906 crore to Rs1189 crore.
This is the company highest ever profit and 19th consecutive quarter of PAT growth on the back of strong operational performance.
The company said excellent performance has been witnessed across all its businesses of Generation, Transmission & Distribution, and Renewables.
These business segments have contributed 84 per cent of the net profit of profit after tax (PAT) in Q1FY25 compared with 72 per cent in the same period in the earlier year.
Revenue growth
The company’s revenue rose 12 per cent YoY to a record high of Rs16,810 crore, and its EBITDA grew by 11 per cent to Rs3,350 crore in the quarter under review quarter.
The company said a strong order pipeline is propelling all-round business growth for the company. It has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent 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 about Rs15,500 crore.
Rooftop market share
Tata Power said it is well poised to garner about 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network.
The company is working towards large-scale round-the-clock (RTC) availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan, and the upcoming 2800 MW pumped hydro storage plants in Maharashtra.
The Odisha distribution business has reduced AT & C losses considerably through enhanced operational efficiency.
The four Odisha discoms continue to post robust EBITDA, registering 20 per cent growth in Q1FY25.
In Delhi, the honourable Delhi Electricity Regulatory Commission has recognised regulatory assets worth Rs5,788 crore for Tata Power Delhi Distribution Ltd.
On a strong note
Dr Praveer Sinha, CEO and Managing Director, Tata Power, said Tata Power has commenced FY25 on a strong note, which is reflected in the Q1 FY25 results as the company books its all-time high and 19th consecutive quarter of profit after tax (PAT) growth.
As the company achieves 1 lakh rooftop solar installations across the country, it thanks its customers for choosing Tata Power as their green energy partner.
“With our pan-India campaign, ‘Ghar Ghar Solar Tata Power Ke Sang’, we are powering solar adoption in the country via solar panels manufactured in our newly built 4.3 GW solar module and cell plant in Tamil Nadu,” added Dr Sinha.
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