Tata Power Q1 PAT jumps 90% YoY

26 Jul 2022 , 05:08 PM

The company registered its 11th consecutive year on year quarterly growth in PAT due to improved performance across all businesses mainly profit from Coal Companies. Profit before tax in Q1 FY23 was Rs 1,062.06 crore, up 2.3% as compared with Rs 1,038.21 crore in Q1 FY22. Total expenses increased 54.64% YoY to Rs 14,660.14 crore and the cost of power purchased rose 44.21% YoY to Rs 5,123.17 crore during the quarter ended 30 June 2022. Consolidated EBITDA stood at Rs 2,107 crore as against Rs 2,365 crore in Q1 FY22 (due to favourable regulatory order in Mundra in PY). Revenue from Transmission and Distribution segment rose 38.83% to Rs 8,958.60 crore in Q1 FY23 compared with Rs 6,452.72 crore in Q1 FY22. Revenue from Generation segment was up 80.2% YoY to Rs 5,125.83 crore and revenue from renewable segment rose 31.77% YoY to Rs 2,089.99 crore in Q1 FY23 over Q1 FY22. The company said that it has planned Rs 14,000 crore consolidated capex in FY23 (with Rs 10,000 crore in Renewables). Dr. Praveer Sinha, CEO and MD at Tata Power said, We have started the new fiscal year on a solid note with all of our business clusters – Generation, Transmission, Distribution, including Odisha, and Renewables – performing very well. This is aptly reflected in our 11th consecutive quarter of PAT growth. We have a robust growth trajectory with stable long-term cost structures and competitiveness across businesses. We are offering a wide range of energy services across the entire value chain along with cutting-edge technologies and superior project execution capabilities. As a future-ready EaaS company, we are well poised to contribute towards Indias green energy transition. Tata Power is one of Indias largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,749 MW. The company has a presence across the entire power value chain – generation via renewables as well as conventional power including hydro and thermal energy; transmission & distribution, coal & freight, logistics, and trading. The Tata Power scrip shed 2.73% to end at Rs 226.15 on the BSE. Powered by Capital Market – Live News