Tata Power Q1 results: Net profit up 4% at Rs 1,189 crore; key highlights
Tata Power said it is well poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network.
- Aug 6, 2024,
- Updated Aug 6, 2024 6:44 PM IST
Tata Power Company Ltd on Tuesday reported a 4.20 per cent year-on-year (YoY) rise in profit at Rs 1,188.63 crore for the June quarter compared with Rs 1,140.97 crore in the same quarter last year. Excluding exceptional items, profit was up 31 per cent YoY.
Tata Power said Q1's was the highest ever and 19th consecutive quarter of profit growth on the back of strong operational performance and execution across businesses: Generation, Transmission & Distribution and Renewables. These businesses, it said, contributed 84 per cent of the profit after tax in the June quarter compared with 72 per cent in the same quarter last year.
Revenue for the quarter rose12 per cent YoY to a record high of Rs 16,810 crore. Ebitda was up 11 per cent YoY at Rs 3,350 crore.
"A solid order pipeline is propelling this all-round business growth. The Company has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent 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 Rs 15,500 crore," the Tata group firm said in an exchange filing.
Tata Power said it is well poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network.
CEO and Managing Director Praveer Sinha said, “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. With our pan-India campaign, ‘Ghar Ghar Solar Tata Power Ke Sang’, we are powering solar adoption in the country via solar panels manufactured in our newly built 4.3 GW solar module and cell plant in Tamil Nadu."
"We have also made significant strides towards advancing sustainable mobility solutions, becoming the first EV charging solutions provider to surpass the installation of 1 lakh home EV chargers. We also have a growing pan-India network of over 5600 public / captive chargers. Our planned capex for this financial year is Rs 20,000 crore," Sinha said.
Tata Power Company Ltd on Tuesday reported a 4.20 per cent year-on-year (YoY) rise in profit at Rs 1,188.63 crore for the June quarter compared with Rs 1,140.97 crore in the same quarter last year. Excluding exceptional items, profit was up 31 per cent YoY.
Tata Power said Q1's was the highest ever and 19th consecutive quarter of profit growth on the back of strong operational performance and execution across businesses: Generation, Transmission & Distribution and Renewables. These businesses, it said, contributed 84 per cent of the profit after tax in the June quarter compared with 72 per cent in the same quarter last year.
Revenue for the quarter rose12 per cent YoY to a record high of Rs 16,810 crore. Ebitda was up 11 per cent YoY at Rs 3,350 crore.
"A solid order pipeline is propelling this all-round business growth. The Company has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent 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 Rs 15,500 crore," the Tata group firm said in an exchange filing.
Tata Power said it is well poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network.
CEO and Managing Director Praveer Sinha said, “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. With our pan-India campaign, ‘Ghar Ghar Solar Tata Power Ke Sang’, we are powering solar adoption in the country via solar panels manufactured in our newly built 4.3 GW solar module and cell plant in Tamil Nadu."
"We have also made significant strides towards advancing sustainable mobility solutions, becoming the first EV charging solutions provider to surpass the installation of 1 lakh home EV chargers. We also have a growing pan-India network of over 5600 public / captive chargers. Our planned capex for this financial year is Rs 20,000 crore," Sinha said.