Tata Power Q1FY23 PAT doubles to Rs794.60 crore on higher share of profits from associate companies

27 Jul 2022 , 08:24 AM

Tata Power Ltd, reported 43.06% growth in total revenues yoy for the Q1FY23 quarter on consolidated basis at Rs14,496 crore. On a sequential basis, revenues were up for the quarter by 21.2%.

For Q1FY23, Tata Power witnessed strong and robust growth across all its 3 key verticals viz. Power generation, renewables and transmission & distribution.

However, in terms of operating profit delivery, generation and renewables delivered yoy growth in operating profits while the profits were lower for transmission & distribution business.

On a sequential basis, Tata Power saw a minor fall in debtors turnover and inventory turnover.

The consolidated net profit for Q1FY23 was up 103.21% yoy at Rs794.60 crore while it was up on a sequential basis by 57.94% due to higher profit contribution from associates and lower impairment sequentially.

The debt service coverage and the interest service coverage ratios improved in the latest quarter on higher profits. Operating margins for the quarter stood at 13%, lower on a yoy basis but higher qoq. Net margins were 5.48% in Q1FY23 quarter compared to 3.86% in Q1FY22. NPM was higher as compared to 4.21% in Q4FY22.

Financial highlights for Jun-22 compared yoy and sequentially

	Tata Power
Rs in Crore	Jun-22	Jun-21	YOY	Mar-22	QOQ
Total Income (Rs cr)	₹ 14,495.48	₹ 10,132.35	43.06%	₹ 11,959.96	21.20%
Net Profit (Rs cr)	₹ 794.60	₹ 391.03	103.21%	₹ 503.11	57.94%
Diluted EPS (Rs)	₹ 2.48	₹ 1.13		₹ 1.58
Net Margins	5.48%	3.86%		4.21%