Tata Power shares end lower ahead of September quarter results

Tata power share price: Investors have not shown any enthusiasm for the Q2 result to be announced by Tata Power on Friday. The Tata Power Ltd stock is trading in red.

As of 2:55 pm on NSE, the stock was trading flat at Rs 224.60 apiece, 0.55 per cent on the downside. On BSE, the stock was trading at Rs 224.45 per share, 0.64 per cent on the downside.

Brokerage firm Axis Securities has given a 'Buy' call with a target price of Rs 235. 

Tata Power Q1FY23 results
Tata Power had reported a 90 per cent YoY increase in consolidated quarterly Profit After Tax (PAT) in Q1FY23 as compared to a year ago.

In Q1FY23, the company had recorded a consolidated PAT before Exceptional Items up by 90 per cent at Rs 884 crores as compared to Q1FY22. The Consolidated Revenue was recorded at Rs 14,776 crore. 

The Consolidated EBITDA (Earnings before interest, taxes, and amortization) stood at Rs 2,107 crore. The standalone PAT was at Rs 421 crore. The standalone EBITDA stood at Rs 1,271 crores.

Tata Power Q2 result announcement 
Tata Power in a regulatory filing had informed that the financial results for Q2FY23 will be announced on October 28, 2022, “Further to our intimation on the captioned subject on 26th October 2022, please note that the Analysts' Call to discuss the financial results for Q2FY23 on 28th October 2022 is rescheduled to commence at 6.00 p.m. instead of 6.30 p.m,” the regulatory filing read.