Mumbai, Feb 4 (IANS): Tata Power on Tuesday reported a robust 10 per cent increase in net profit to Rs 1,188 crore for the Oct-Dec quarter of the current financial year compared to the corresponding figure of Rs 1,076 crore in the same period of 2023-24.
The Tata Group company said the strong performance was due to better realisation in the core business segments comprising power generation, transmission, distribution and renewables.
The consolidated revenue of the power major during the third quarter rose 3 per cent to Rs 15,793 crore from Rs 15,294 crore during the same period last year, according to the company statement.
The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 7 per cent to Rs 3,481 crore from Rs 3,250 crore in the year-ago period.
Tata Power said its renewable business in Q3FY25 recorded a 59 per cent jump to Rs 214 crore and by 41 per cent to Rs 787 crore over nine months of the current financial year. The clean and green portfolio now stands at around 6.7 GW installed and a pipeline of 10 GW, which will take the total portfolio to over 16.7 GW.
With close to 2.5 GW of rooftop installations nationwide, the Company has advanced its #GharGharSolar initiative to Tamil Nadu, building on the success in Rajasthan, Uttar Pradesh, Kerala, and Chhattisgarh.
With capex investments of Rs 3,000+ crore in the first 9 months of FY25, the Transmission & Distribution business reported 7 per cent growth in net profit to Rs 370 crore in Q3FY25 and 32 per cent to Rs 1384 crore in the nine months of the financial year, according to the company statement.
Praveer Sinha, CEO and Managing Director of Tata Power said the company has delivered a sustained PAT (profit after tax) growth trajectory over the last 21 quarters and that all the businesses have been contributing to this growth.
"We have emerged as a clean energy leader with a presence across the full value chain of manufacturing, EPC, and development of renewable projects along with retail supply through group captives. As an integrated power company, we offer complete energy services towards our portfolio of generation, transmission and distribution solutions to provide affordable power for all," Sinha added.