Q1 Results: Tata Power Net Profit Soars 103% YoY To Rs 794.60 Cr
Tata Power on Tuesday released its financial results for the quarter ended June 30, 2022 and reported a 103 per cent jump in its year-on-year (YoY) consolidated net profit at Rs 794.60 crore compared to Rs 391.03 crore in the same quarter last year.
Its revenue from operations increased by 43 per cent YoY to Rs 14,495.48 crore compared to Rs 10,132 crore in the corresponding quarter a year ago.
Consolidated EBITDA stood at Rs 2,107 crore vs Rs 2,365 crore in Q1FY22.
"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," said Praveer Sinha, CEO & MD, Tata Power.
It also stated that it has set up a network of over 2,350 public and semi-public EV chargers with another 1,400-plus chargers in various stages of installation. It has also installed 18,500 home chargers and 240 bus charging points across India.
"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 India's green energy transition," added Sinha.
The company, while presenting the business highlights for the quarter under review stated that its total renewable capacity stands at 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation.
It achieved an order book of over Rs 14,500 crore in EPC utility-scale projects and commissioned 234 MW of in-house projects
Its cumulative solar rooftop portfolio expanded to 1,000 + MW, with installations across roof spaces, floating solar, ground mounted / open access and achieved an order book pipeline of Rs 750+ crore at the end of Q1 FY23.
