Tata Power Q1 net profit rises 4% to Rs 1,188 crore

Tata Power

Tata Power reported consolidated net profit of Rs 1,188.63 crore in the first quarter of the financial year 2024-25, growing four percent from the last year.

The company posted net profit of Rs 1,140.97 crore in the same period last year. Sequentially, net profit increased 13 percent, from Rs 1,045.59 crore reported in the March quarter.

Revenue from operations increased 13.6 percent to Rs 17,293.62 crore in the quarter, from Rs 15,213.29 crore in the same period last year.

Tata Power was expected to report a 14.7 percent YoY increase in revenue at Rs 17,457 crore in Q1FY25, as per the average estimates of five brokerage firms. On the other hand, net profit was expected to be muted at Rs 1,004 crore against Rs 927.34 crore in Q1FY24.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 11 percent to Rs 3,350 crore from Rs 3,005 crore in Q1FY24.

“We have commenced FY25 on a strong note, which is reflected in the Q1 FY25 results as we book our all-time high and 19th consecutive quarter of PAT growth. All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum,” said Praveer Sinha, CEO and Managing Director.

The company said it has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 percent of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is around Rs 15,500 crore.

The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is around Rs 15,500 crore, the company said in a press release. Tata Power is well poised to garner around 20 percent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, it added.

The company said it is working towards large-scale RTC availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan, and the upcoming 2,800 MW pumped hydro storage plants in Maharashtra.

The Odisha distribution business has reduced AT&C losses considerably through enhanced operational efficiency. The four Odisha discoms continue to post robust EBITDA, registering 20 percent growth in Q1FY25, said Tata Power.

In Delhi, the Delhi Electricity Regulatory Commission has recognized regulatory assets worth Rs 5,788 crore for Tata Power Delhi Distribution Limited, it said.

The Tata Power stock ended the day at Rs 436.80 on BSE, 0.48 percent higher than the previous close.