Tata Power Q1 Results: PAT Rises 22.4% YoY To Rs 972.49 Crore

Tata Power Company Ltd. on Wednesday, Aug 09, reported a 22.4% year-on-year (YoY) increase in total net profit to Rs 972.49 crore for the quarter ended June 2023. The consolidated revenue from operations increased by roughly 5% year on year to Rs 15,213.29 Crore. Sequentially, consolidated net profit increased by 25% from Rs. 777.73 crore in Q4FY23.

Consolidated revenue from operations grew 5% year on year to Rs 15,213.29 crores in the quarter ended June from Rs 14,495.48 crore in Q1FY23. In the first quarter, total income increased to Rs 15,484.71 crore, compared to Rs14,638.78 crore in the previous year.

The cost of purchased power for the quarter was Rs 5,392 crore, up from Rs 5,123.2 crore the previous year. Fuel costs fell to Rs 3,473.4 crore in the third quarter, down from Rs 4,216 crore the previous year.

The shares of Tata Power closed at Rs 234.90 per share, up 0.45% from the previous close. Shares declined 0.17% in 1 week, while gained 3.09% in 1 month. Its 52-week high is Rs 251 per share and its 52-week low is Rs 182.45 per share on BSE.

Dr. Praveer Sinha, CEO & MD, Tata Power said, "We have delivered a 15th consecutive quarter of PAT growth on the back of strong performance across all business clusters. This is the result of our effective strategies, operational efficiencies, and execution excellence driven by our committed workforce. We have planned nearly ₹12,000 crore of capex for the current financial year that would help us lead the green energy transition and in the growth opportunities in the transmission and distribution business. Tata Power is well poised to develop round the clock renewable power solutions. We are making significant progress in developing solutions around battery storage, pumped hydro projects, and other hybrid solutions. This will support the RE100 agenda of large enterprises and also contribute towards clean energy solutions for our C&I consumers."