Tata Power Q1 Results: Net profit jumps 90% YoY to Rs 884 crore

Tata Power on Tuesday reported a 90% year-on-year (YoY) increase in consolidated net profit at Rs 884 crore in the quarter ended 30 June 2022. The company had posted a net profit of Rs 466 crore in the year-ago period.

Its consolidated revenue from operations increased 48% to Rs 14,776 crore in the quarter under review as against Rs 9974 crore in the same quarter last fiscal.

The company's Ebitda or operating profit stood at Rs 2,107 crore as against Rs 2,365 crore in Q1FY22, down by 11%.


Praveer Sinha, CEO & MD at Tata Power said, “We have started the new fiscal year on a solid note with all of our business clusters - generation, transmission, distribution, including Odisha, and Renewables - performing very well. We have a robust growth trajectory with stable long-term cost structures and competitiveness across businesses."

Shares of Tata Power on Tuesday closed 2.73% lower at Rs 226.15 apiece on BSE. The benchmark Sensex closed 0.89% lower.

The company said it has set up a network of over 2,350 public and semi-public EV chargers with another 1,400-plus charger in various stages of installation. It has also installed 18,500 home chargers and 240 bus charging points across India.

"We are offering a wide range of energy services across the entire value chain along with cutting-edge technologies and superior project execution capabilities. As a future-ready EaaS company, we are well poised to contribute towards India's green energy transition," added Sinha.

The total renewable capacity of Tata Power is 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation. During the quarter, the company signed an MoU with the Tamil Nadu state government for a ₹3,000 crore investment for setting up a greenfield 4 GW solar cell and module plant.