Tata Power Q4 results: Net profit rises 11% YoY to nearly ₹1,046 crore, ₹2 per share dividend declared

The Tata Group company, in its earnings report for the quarter and full financial year ended March 31, 2024, reported a 11.37% year-on-year (YoY) rise in consolidated net profit in Q4FY24 at ₹1,045.69 crore, compared to ₹938.81 crore in the same period in 2023.

Tata Power Company Limited also saw a 27% rise in revenue from operations at ₹15,846.58 crore in the January-March 2024 quarter, compared to ₹12,453,76 crore in Q4FY23.

Despite the upbeat Q4 result, Tata Power shares tanked over 3.5% today, with a intraday low of ₹431.2 per share. As of 11:15 am, shares are trading 2.7% lower at ₹423.2 per share on NSE.

In the March quarter, the company’s earnings before interest depreciation tax and amortisation (EBITDA) stood at ₹3,358 crore, up 8.29% YoY compared to ₹3,101 crore in the year-ago period.

Dr Praveer Sinha, CEO and Managing Director, Tata Power, said, “The company reported yet another quarter of stellar results with Q4FY24 being the 18th consecutive quarter of PAT growth. The operational and financial performance of all our core businesses — Generation, T&D and Renewables — has been strong and is on a growth path.”

Tata Power also announced its highest-ever profit after tax (PAT) of ₹4,280 crore for the full financial year ending March 31, 2024. The company said that its market capitalisation has exceeded ₹1.4 lakh crore.

Tata Power dividend declaration

Tata Power’s board has proposed a final dividend of ₹2 per equity share of ₹1 each (200%) for the financial year ending March 31, 2024. The dividend payout is subject to the approval at the annual general meeting scheduled for July 16, 2024.