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Revenue for the quarter increased by 5% from last year to ₹15,391 crore. An average poll of analysts tracking the stock had pegged the figure at ₹17,254 crore.
Net profit for the quarter increased by 10.3% to ₹1,187 crore from ₹1,076 crore last year.
Tata Power’s earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 39% year-on-year to ₹3,352 crore, while margins expanded by over 500 basis points to 21.8% from 16.5% last year.
The company also reported a regulatory loss of ₹274 crore during the quarter, compared to a gain of ₹190 crore during the year-ago quarter.
Tata Power’s profit for the renewable business grew by 59% during the quarter to ₹214 crore. Its Clean & Green portfolio now stands at nearly 6.7 GW installed and a pipeline of 10 GW, taking the total portfolio to over 16.7 GW, it said in a post-earnings statement.
“As the Government is looking for active partnerships with private players and the amendment to the Nuclear Power Act to set up nuclear energy capacity, we will take up the opportunities to set up small modular nuclear reactors,” Tata Power MD & CEO Praveer Sinha was quoted as saying.
Tata Power’s entire 4 GW cell line at the Tirunelveli plant in Tamil Nadu is fully operational and an additional 300 MW TOPCon line will be commissioned during the ongoing quarter.
The manufacturing unit of Tata Power reported a topline of ₹1,300 crore and a net profit of ₹112 crore during the quarter.
“Tata Power is well poised to achieve a target of 30 lakh installations by 2030 to support the PM Surya Ghar Yojana.
Shares of Tata Power had ended 2% higher on Tuesday ahead of the earnings announcement at ₹361.85. The stock is still down 27% from its recent high of ₹494.
First Published: Feb 4, 2025 4:17 PM IST