Moneycontrol
HomeNewsBusinessEarningsTata Power's Q3 net profit jumps 90.5% to Rs 1,052 crore
Trending Topics

Tata Power's Q3 net profit jumps 90.5% to Rs 1,052 crore

The third quarter saw significant strides in various businesses associated with our green energy platform and transmission and distribution (T&D) business, Praveer Sinha, CEO and managing director, Tata Power.

February 03, 2023 / 17:59 IST
Story continues below Advertisement
Praveer Sinha, CEO and managing director, Tata Power, said the company reported another quarter of strong financial results with PAT growing for the 13th consecutive quarter.

Tata Power  on February 3 stated that its consolidated profit after tax (PAT) registered an increase of 90.6 percent at Rs 1,052 crore in the quarter ended December 31, 2022 on account of better performance across all businesses. The company had reported a net profit of Rs 552 crore in the year-ago period.

Tata Power's consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) was up by 53 percent at Rs 2,818 crore as against Rs 1,841 crore in Q3 FY22 on account of capacity addition in renewables and overall better business performance.

Story continues below Advertisement

The year-on-year consolidated revenue was up 30 percent at Rs 14,339 crore compared to Rs 11,015 crore in Q3FY22, which was attributed to higher generation in thermal plants and higher sales in distribution companies.

Praveer Sinha, CEO and managing director, Tata Power, said the company reported another quarter of strong financial results with PAT growing for the 13th consecutive quarter.