Tata Power Q1 Results: Net profit at Rs 971 crore, EBITDA grows 11%

Tata Power Q1 Results: Tata group electricity generation company Tata Power on Tuesday reported a consolidated net profit of Rs 970.9 crore for the April-June period, marking a decline of 0.2 per cent compared with the corresponding period a year ago. 

Its revenue grew to Rs 17,293.6 crore for the first quarter of the current financial year, up 13.7 per cent on a year-on-year basis, according to a regulatory filing.

According to Zee Business, Tata Power's June-quarter net profit was estimated at Rs 1,010 crore and revenue at Rs 17,407 crore.

Revenue from the Tata group company's transmission and distribution (T&D) business grew 12.3 per cent to Rs 10,472.9 crore while that from its power generation operations increased 8.1 per cent to Rs 5,216.7 crore, according to the filing. 

“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.

Tata Power said its net profit before exceptional items came in at a record Rs 1,188.6 crore driven by strong operational performance and execution excellence across businesses, marking its 19th back-to-back quarter of growth. 

"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," Sinha said. 

The private sector power generation company's consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 11 per cent to Rs 3,350 crore for the June quarter. 

"A solid order pipeline is propelling this all-round business growth. The Company has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is ~Rs 15,500 crore," said Sinha. 

Tata Power said it is well poised to garner around 20 per cent market share in the residential rooftop segment.

Tata Power has earmarked a planned capex of Rs 20,000 crore for the current financial year. "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," he added. 

Earlier on Tuesday, Tata Power shares ended 1.2 per cent higher at Rs 439.9 apiece on BSE amid a market-wide rebound following a global sell-off the previous day.

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