Net profit of Tata Power rose 4% year-on-year to ₹1,189 crore for the quarter ended June on the back of operational efficiency.
The company reported its highest ever and 19th consecutive quarter of PAT growth on the back of operational performance and execution across all its businesses of generation, transmission and distribution, and renewable, Tata Power says in a statement.
Revenue of the company rose 12% year-on-year to ₹16,810 crore for the first quarter compared with ₹15,003 crore in the corresponding quarter a year ago.
EBITDA or earnings before interest, taxes, depreciation, and amortisation grew 11% to ₹3,350 crore.
“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,” says r Praveer Sinha, CEO and managing director, Tata Power.
“As we achieve 1 lakh rooftop solar installations across the country, we thank our 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,” says Sinha.
“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,” Sinha adds. Tata Power has a pan-India network of over 5,600 public and 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,” says Sinha.
Tata Power says it is well poised to garner around 20% 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 has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41% of the capacity, with another 5.3 GW under execution.
“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% growth in Q1FY25. In Delhi, the Honourable Delhi Electricity Regulatory Commission has recognised regulatory assets worth ₹ 5,788 Crore for Tata Power Delhi Distribution Limited,” the company says.
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