Tata Power Q3 net profit rises 10% to Rs 1,188 crore

Tata Power

Tata Power, on February 4, declared a consolidated net profit of Rs 1,188 crore for the third quarter of FY24-25, registering an on-year growth of 10 percent over the consolidated profit of Rs 1,076 crore last year. The company said the net profit was on account of better realisation in the core business segments consisting of generation, transmission, distribution and renewables.

The consolidated revenue of the Tata Group company increased by 3 percent to Rs 15,793 crore compared to Rs 15,294 crore during the same period last year. The company attributed its strong financial performance to its healthy balance sheet, operational excellence, and synergies across business clusters.

Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 7 percent to Rs 3,481 crore from Rs 3,250 crore.

Praveer Sinha, CEO and Managing Director of Tata Power, said the company has delivered a sustained PAT (profit after tax) growth trajectory over the last 21 quarters and that all the businesses have been contributing to this growth.

"We have emerged as a clean energy leader with presence across the full value chain of manufacturing, EPC, and development of renewable projects along with retail supply through group captives. As an integrated power company, we offer complete energy services towards our portfolio of generation, transmission and distribution solutions to provide affordable power for all," Sinha said.

As of 31st December 2024, the company’s operational capacity was 6.7 gigawatt (GW) in the clean and green segment, generating 11,700+ million units (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.

Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, commissioned one
of India’s largest floating solar projects of 126 MWp in Omkareshwar and the 431 MW
DC Solar Plant in Neemuch, Madhya Pradesh. The Neemuch plant is India’s first solar plant to
incorporate a unique combination of single-axis trackers and bi-facial modules.

The company also reached a milestone of 16 lakh smart meter installations across its discoms in Mumbai, Delhi and Odisha.

The company's shares closed 1.96 percent higher, at Rs 361.85 on the NSE on February 4.