Tata Power posts 90% y-o-y growth in profit

27 Jul 2022 , 09:29 AM

Tata Power Limited announced its results for the quarter ended June 30, 2022, and company has posted robust numbers during the quarter.

Company’s Consolidated PAT (before Exceptional Items) registered growth of 90% yoy at Rs884 crore in Q1FY23 against Rs466 crore in Q1FY22 on the back of improved performance across all businesses. Standalone PAT recorded a growth of 19% yoy at Rs421 crore as compared to Rs354 crore in Q1FY22.

Tata Power’s consolidated Revenue jumped by 48% yoy at Rs14,776 crore as against Rs9,974 crore in the previous corresponding quarter.

Company reported a Consolidated EBITDA of Rs2,107 crore in Q1FY23 as compared to Rs2,365 crore in Q1FY22 owing to favourable regulatory orders in Mundra in PY. While Standalone EBITDA stood at Rs1,271 crore as compared to Rs1,405 crore in Q1FY22.

During the quarter, the total renewable capacity of Tata Power was 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation.

During the quarter under review, the company has a strong Solar EPC order book of Rs14,626 crore winning 1.7 GW projects in Q1FY23.

At around 9.32 AM, Tata Power was trading at Rs219.30 down by Rs6.85 or 3.03% from its previous closing of Rs226.15 on the BSE. The scrip opened at Rs221.90 and has touched intraday high and low of Rs223.90 and Rs219 respectively.