Integrated power company of the Tata Group, Tata Power has reported consolidated profit after tax (PAT) of ₹1,188 crore in the October-December 2024 quarter, an increase of 10% year-on-year (YoY) from Rs 1,076 crore, primarily on the back of good contributions and operational efficiency across businesses. The consolidated revenue from operations stood at Rs 15,118 crore by the end of the third quarter, a 2% YoY growth from ₹14,841 crore in the year-ago period. The company's consolidated EBITDA during the third quarter rose 7% to ₹3,481 crore.

For the 9M FY25 period, the company clocked a revenue and PAT of ₹47,174 crore and ₹3,909 crore, respectively. The company says in the 9 months, its EBITDA reached an all-time high at ₹10,639 crore.

Praveer Sinha, CEO and Managing Director, Tata Power, says the company's operations in Odisha have emerged as a role model for Discom reforms. "We are earnestly exploring distribution opportunities in other states to support the government's focus on revamping the sector. As the government is looking for active partnerships with private players and the amendment to the Nuclear Power Act to set up nuclear energy capacity, we will take up the opportunities to set up small modular nuclear reactors.”

As of December 31, 2024, the company’s operational capacity stood at 6.7 GW in the clean and green segment, generating 11,700+ MUs of green power. Another 10 GW of projects are under execution and are poised to take its total clean energy capacity to 16.7 GW.

Segment-wise, Tata Power's renewables business saw PAT grow 59% to ₹214 crore in Q3FY25 and 41% to ₹787 crore over nine months. The clean and green portfolio now stands at 6.7 GW installed and a pipeline of 10 GW, which will take the total portfolio to over 16.7 GW.

In its update on the solar manufacturing infrastructure, the company says its entire 4 GW cell line at the Tirunelveli plant in Tamil Nadu is fully operational. "Additional 300 MW TOPCon line to be commissioned in Q4FY25. The manufacturing unit reported revenues of more than ₹1,300 crore, EBITDA of ₹226 crore, and PAT of ₹112 crore in Q3FY25."

In the rooftop solar business, the company is continuing its pan-India expansion and targets 30 lakh installations by 2030. The company has so far installed 2.5 GW of rooftop installations nationwide, with key projects in Tamil Nadu after Rajasthan, Uttar Pradesh, Kerala, and Chhattisgarh. The rooftop business saw revenue growth of 15% to ₹509 crore in Q3FY25 and on a 9-month basis reported revenues of ₹1,346 crore, up 22% on a YoY basis.

In the power transmission and distribution business, Tata Power saw 7% growth in PAT at ₹370 crore in Q3 FY25. The company targets 10,500 Ckm of capacity by FY30 and says it has won four large strategic transmission bids for ₹7,100 crore in the last 10 months.

In regional clean energy projects, Tata Power forged a "strategic alliance" with Druk Green Power Corporation (DGPC) to develop 5 GW of clean energy capacity (4.5 GW of Hydro & 500 MW of Solar) for Bhutan and India. The quarter saw Tata Power Trading Company supply 50 MW of renewable energy to Bhutan, the first-ever bilateral cross-border merchant supply.

In sustainable mobility, Tata Power says it surpassed a milestone of 1,20,000 home chargers and 1,156 e-bus charging points. Shares of Tata Power closed 2.6% to ₹362.15 on the BSE today.