Tata Power Q1 FY25 Results: Net profit up 31% to Rs 1,189 crore

2 minutes of reading Last updated: August 6, 2024 | 17:28 IST

Tata Power on Tuesday said it reported a 31 per cent rise in consolidated net profit at Rs 1,189 crore over the same period last year on the back of improved operational efficiency.

“At Rs 1,189 crore, growing by 31 per cent year-on-year (YoY), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across its Generation, Transmission & Distribution and Renewables businesses,” Tata Power said in a statement.

As per the statement, these businesses accounted for 84 per cent of PAT (net profit) in the first quarter of FY2025, compared to 72 per cent in the same period of FY2024.

The statement said consolidated net profit before exceptional items stood at Rs 906 crore for the quarter ended June 30, 2023.

The company’s revenue grew by 12 per cent year-on-year to a record Rs 16,810 crore (from Rs 15,003 crore in Q1 FY24) and EBITDA grew by 11 per cent to Rs 3,350 crore in the reported quarter (from Rs 3,005 crore in Q1 FY24).

EBITDA refers to earnings before interest, taxes, depreciation and amortization.

“All our businesses delivered profitable growth driven by operational efficiency, execution excellence and continued growth in business momentum,” said Praveer Sinha, CEO and Managing Director, Tata Power.

He said the planned capital expenditure for the current financial year is Rs 20,000 crore and the company is committed to adopting and leading new and emerging clean energy technologies, including pumped-storage hydropower projects, hydropower projects in Bhutan and opportunities for small modular nuclear reactors as government policies evolve.

The company recorded a capital expenditure of Rs 4,000 crore in the first quarter of FY25.

In the first quarter of fiscal year 2025, the company had 6.1 GW of clean and ecological installed capacity, which is 41% of capacity, with another 5.3 GW under construction.

The total value of orders for utility-scale EPC systems and rooftop solar panels, including bulk orders, is Rs 15,500 crore.

Tata Power is all set to capture 20 per cent market share in the residential rooftop segment with the help of its new solar panel manufacturing facility and strong network of channel partners across India, the company said.

(Only the headline and image of the report may have been edited by the Business Standard team; the rest of the content is automatically generated from a syndicated feed.)

First published: August 6, 2024 | 17:28 IST