Tata Power surprised investors by reporting a consolidated net profit of Rs 1,478 crore in the fourth quarter ended March 2018 result. This was against net loss of Rs 227 crore in the corresponding period of the previous year. Tata Power in it’s financial audit report mentions that Q4FY18 PAT has recorded eight fold increase which is 751% mainly due to good all round performance and exceptional gains. 

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Consolidated Revenue was up at Rs 7,853 crore as compared to Rs 6,876 crore in the corresponding quarter last year.

However, the share price of Tata Motors on BSE, finished at Rs 86.95 per piece down by Rs 1.20 or 1.36%. 

Key highlights from the financial performance of Tata Powers. 

  • FY18 Consolidated Profit After Tax was up 144% at Rs 2,679 crore mainly due to strong performance by Regulated businesses, Renewables and cost optimization. 
  • Exceptional items of Rs 1103 crore contributed to the higher profits. CGPL (Mundra UMPP) posted its highest ever losses due to 25% higher coal prices however it was offset by higher profits at Coal companies.
  • FY18 underlying business EBITDA including Joint Venture (JV) Companies was up 17% at Rs 10,104 crore mainly due to 46% increase in Renewable business and strong all round performance in both regulated and non-regulated business.
  • Dividend recommended by Board at Rs 1.30 per share.
  • Clean Energy portfolio grew to 3,417 MW as compared to 3141 MW last year.
  • Tata Power Delhi Distribution achieved a benchmark reduction in AT&C losses at 8.40% as against -8.59% for the same period last year.
  • In 2018, Tata Power's consumer base crossed 2.6 million mark across the country.
  • Tata Power's generation crosses 53,500 MUs for the first time in FY18.
  • Tata Power’s board approved the sale of its Defense business to Tata Advance Systems Limited, a wholly owned subsidiary of Tata Sons at an enterprise value of Rs 2,230 crore subject to Government & other approvals. The Board also approved sale of other non-core investments including Tata Communications and Panatone.
  • The Company reviewed provisions for impairment of its investments in CGPL, Coal mines and other investments leading to provision of Rs 4330 crore during the quarter in Standalone results. However, at a consolidated level this gets offset and net gains of Rs 1245 crore has been recognized.
  • The Company continued its robust operations. Standalone Generation for the quarter stood at 12,237 MUs. Mundra reported generation of 26,686 MUs.