Tata Power Q1 results: Net profit up 4% YoY to ₹1,189 crore, revenue grows 13.7%

The company reported a net profit of ₹1,141 crore in the first quarter of the previous fiscal, 2023-24 (Q1FY24).

In a statement, however, Tata Power noted that the profit after tax before exceptional items has risen 31% YoY, as compared to ₹906 crore in the year-ago period.

The consolidated revenue from operations in Q1FY25 came in at ₹17,293.6 crore during the quarter under review, which is 13.7% higher as compared to ₹15,213.29 crore in the year-ago period.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 11% to ₹3,350 crore in the reported quarter from ₹3,005 crore in Q1FY24.

"All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum," said Praveer Sinha, CEO and Managing Director, Tata Power.

He said that the planned capex for the current financial year is ₹20,000 crore and the company is focused on adopting emerging clean energy technologies including pumped hydro projects, hydropower projects in Bhutan and opportunities to develop small modular nuclear reactors as the government policy evolves.

The company has recorded a capex investment of ₹4,000 crore in Q1FY25. It has a clean and green installed capacity of 6.1 GW as of the June 2024 quarter, accounting for 41% 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 ₹15,500 crore.

Tata Power is aiming to acquire a 20% market share in the residential rooftop segment facilitated by its new solar manufacturing facility as well as a strong channel partner network across India, the statement said.

The company’s shares on Tuesday were last traded at ₹436.70, up 0.44% as against the previous session’s close.