Tata Power shares fall ahead of Tata group firm's Q4 results on May 8

Tata Power share price today: Tata Power Ltd, whose shares hit a record high last week, fell over 2 per cent in Monday's trade, ahead of the Tata group firm's March quarter (Q4) results on May 8. Tata Power shares fell 2.43 per cent to hit a low of Rs 443.55 on BSE. Post its quarterly results, Tata Power will host earnings conference call at 6:00 pm on the same day.

Elara Securities expects Tata Power to report a 2.2 per cent year-on-year rise in recurring PAT at Rs 959 crore on 6.8 per cent YoY jump in sales at Rs 13,301 crore. Ebitda for the quarter is seen up 13.9 per cent YoY at Rs 2,194.70 crore.

JM Financial expects Tata Power's profit to rise 8 per cent YoY to Rs 838.20 crore, thanks to DISCOMS posting better than expected performance. Revenue is seen climbing 21 per cent YoY to Rs 15,090 crore, due to strong execution in the RE capacity & operationalisation of Mundra. Margin is seen 344 points YoY to 19 per cent.

Tata Power's profit after tax for the first nine months declined 6 per cent YoY, adjusted for one-off ITPC regulatory income and lower dividend tax on coal profits.

CGPL (Mundra UMPP) reverted to losses in Q3 driven by coal profit sharing as CGPL had to source coal from captive KPC mines this quarter against third-party coal procurement.

The nine-month coal profits was down by an estimated 81 per cent on falling coal realisation. This was offset by rising profits of Solar EPC and Odisha distribution.

The company's arm Tata Power Renewable Energy has signed a PPA with SJVN Limited to set up 460 MW firm and dispatchable renewable energy projects.