Tata Power Q1 results: Net profit rises 4% to ₹1,189 crore, revenue at ₹17,294 crore

Tata Power announced a consolidated net profit of ₹1,189 crore for the quarter ending June 30, 2024, marking a rise of over 4 per cent compared to the ₹1,141 crore reported in the same period last year.

Revenue from operations for the reported quarter was ₹17,294 crore, an increase from ₹15,213 crore in the same quarter of the previous financial year, reflecting a 14 per cent year-over-year growth.

Tata Power, one of India's largest integrated power companies, announced its financial results for Q1FY25. The company reported its highest-ever PAT and marked its 19th consecutive quarter of growth, driven by strong operational performance and exceptional execution across its generation, transmission, distribution, and renewables businesses.

“We have commenced FY25 on a strong note, which is reflected in the Q1 FY25 results as we book our all-time high and 19th consecutive quarter of PAT growth. 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.

The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 11 per cent to ₹3,350 crore in the reported quarter.

The company credited its growth to a robust order pipeline, which it said is driving comprehensive business expansion. As of Q1FY25, the company boasts a clean and green installed capacity of 6.1 GW, representing 41 per cent of its total capacity, with an additional 5.3 GW currently under development.

The total order pipeline for utility-scale EPC and solar rooftop projects, including group captive, amounts to ₹15,500 crore.

According to Tata Power's release, the company is well-positioned to capture a 20 per cent market share in the residential rooftop sector, thanks to its new solar manufacturing facility and an extensive network of channel partners across India.

“We have also made significant strides towards advancing sustainable mobility solutions, becoming the first EV charging solutions provider to surpass the installation of 1 lakh home EV chargers. We also have a growing pan-India network of over 5600 public / captive chargers. Our planned capex for this financial year is ₹20,000 Crore. We are committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, Hydropower project in Bhutan, and opportunities to develop Small Modular Nuclear Reactors as Government policy evolves,” Sinha added.