Tata Power Q3FY23 PAT Soars 91% To Rs 1,052 Cr
Tata Power on Friday reported a 91 per cent jump in its consolidated profit after tax (PAT) at Rs 1,052 crore in the quarter ended 31 December, 2022 compared to Rs 552 crore in the same quarter a year ago.
This quarter marks 13th consecutive quarter of PAT growth for the company.
Its consolidated revenue jumped 30 per cent in the quarter under review at Rs 14,339 crore compared to Rs 11,015 crore in the year ago quarter. This was on account of capacity addition in renewables, higher generation in thermal plants and higher sales in distribution companies.
The company’s consolidated EBITDA jumped 53 per cent to Rs 2,818 crore compared to Rs 1,841 crore in the year ago period for the quarter under review.
“The stellar performance from all our business clusters - Generation, Transmission, Distribution, and Renewables has placed us in a very bright spot. The first three quarters of the current fiscal have ended on a strong note, delivering sequential revenue growth and profit,” said Praveer Sinha, CEO & MD, Tata Power.
“The third quarter saw significant strides in various businesses associated with our Green Energy Platform and Transmission & Distribution (T&D) business. We have committed investments in Renewables and in Odisha Power Distribution and have further strengthened our position in Rooftop Solar and EV charging domains,” he added.
