TATA Power Q4 Results 2022: 31% jump in March quarter PAT at Rs 632 cr; company announces Rs 1.75 dividend

TATA Power Q4 Results 2022: India's largest integrated power company Tata Power posted a 31 per cent Year-on-Year (YoY) jump in its net profit for the quarter ended 31 March 2022. In Q4FY22 the consolidated Profit After Tax (PAT) stood at Rs 632 cr versus Rs 481 cr reported during the corresponding period in FY22. For the financial year, the PAT was reported at Rs 2156 cr as against Rs 1439 cr which was a 50 per cent jump YoY. This was 10th consecutive quarter of PAT growth, the company said in its filing to the exchanges.

The company posted its highest quarterly and annual Profit After Tax (PAT) growth of 76 per cent and 61 per cent Year-on-Year (YoY) respectively, it said in the exchange filing.

The EBITDA for the reporting quarter was at Rs 2253 cr, which was up 35 per cent YoY. For the year, it was up 3 per cent. 

In April 2022, BlackRock-led consortium including Mubadala Investment entered into a binding agreement to invest Rs. 4,000 crore in Tata Power Renewable Energy Platform National.

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Here are other key highlights of the results: 

The company also received approval for merger of CGPL into Tata Power and signed binding agreement for investment in the renewable energy platform, the company said.

- Consolidated Q4 revenue at Rs 12,085 cr which was up 16 per cent YoY increase.
- Yearly revenue at Rs 42,576 cr witnessed a YoY growth of 28 per cent.
- Board recommends a dividend of Rs 1.75 per share. 
- Solar EPC execution picked up, 1.5 GW utility scale projects completed in FY22. 2 GW order book worth Rs 7,275 cr as on 31 March, 2022. 

On company's performance, Praveer Sinha, Chief Executive Officer and Managing Director said "We ended FY22 on a high note, with our 10th consecutive quarter of PAT growth, fueled by broad-based growth across all our business clusters comprising Generation, Transmission, Distribution including Odisha and Renewables. Our proven track record in the renewable energy space has attracted reputed global investors (BlackRock Real Assets and Mubadala) to join us in speeding up India's transition to green energy.".

"We are significantly contributing towards the country’s growing energy needs and shall continue with our growth trajectory going forward, ensuring consistent value to all our stakeholders. We are well poised to manage the increasing energy demand due to extreme weather patterns through optimal generation, efficient transmission and distribution complemented by robust renewable energy growth,” the CEO said.