Tata Power Q2FY23 PAT up 94.3% yoy at Rs819 crore amidst 3-fold spike in power generation EBIT

29 Oct 2022 , 06:02 PM

Tata Power Ltd reported 41.02% growth in total revenues for the September 2022 quarter on consolidated basis at Rs14,031cr.

Revenues were down -3.21% in sequential terms. In terms of verticals, the revenues from generation more than doubled to Rs4,834 crore due to higher capacity charges.

The renewables vertical saw revenues grow 7.3% at Rs1,604 crore while the transmission and distribution business saw revenues growing by 32.9% at Rs9,020 crore.

The current ratio of the company improved from 0.59 times to 0.69 times yoy while the inventory turnover improved from 62 days to 75 days yoy. Debtors turnover was flat.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 91.32% at Rs819.1 crore and it was up 3.08% on sequential basis.

Operating profits from generation was up 295% at Rs1,423 crore while the EBIT from transmission and distribution increased 15.5% at Rs515 crore. EBIT of renewables was marginally lower at Rs464 crore.

Operating margins stood at 16% compared to 13% yoy. Reduced debt and improved profits resulted in improvement in interest coverage ratio and debt service coverage ratio yoy.

Net profit margins at 5.84% in Q2FY23 is higher compared to 4.30% in Q1FY22 and 5.48% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Tata Power
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 14,030.72	₹ 9,810.22	43.02%	₹ 14,495.48	-3.21%
Net Profit (Rs cr)	₹ 819.09	₹ 421.51	94.32%	₹ 794.60	3.08%
Diluted EPS (Rs)	₹ 2.57	₹ 1.32		₹ 2.48
Net Margins	5.84%	4.30%		5.48%