Q1 Results: Tata Power Sees 31% Growth In Net Profits

Q1 Results: Tata Power Sees 31% In Its Net Profits

Tata Power today reported its financial results for the latest quarter (Q1) for financial year 2024-25. The data submitted by the company revealed that the company reported a 13 percent growth in its net profit on a Year-on-Year (YoY) basis.  The company reported its highest ever and 19th consecutive quarter of PAT (Profit After Tax) growth.

The company attributed this to the strong operational performance and execution excellence across all its businesses of Generation, Transmission & Distribution, and Renewables. These businesses contributed 84% of the PAT in Q1FY25 compared to 72% in the same period in FY24. The company’s revenue rose 12% YoY to a record high of ₹16,810 Crore, and EBITDA grew 11% to ₹3,350 crore in the reported quarter.

An order pipeline is propelling this all-round business growth, the company said in a release. Tata Power has a clean and green installed capacity of 6.1 GW as of Q1FY25, 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 well poised to garner ~20% market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network. The company is working towards large-scale RTC availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan, and the upcoming 2800  MW pumped hydro storage plants in Maharashtra,” it said in a statement.

The Odisha distribution business has reduced AT & C losses considerably through enhanced operational efficiency. The four Odisha discoms continue to post robust EBITDA, registering 20% growth in Q1FY25. In Delhi, the Delhi Electricity Regulatory Commission has recognized regulatory assets worth ₹ 5,788 Crore for Tata Power Delhi Distribution Limited. Tata Power’s conventional generation assets continue to cater to the nation’s rising power demand and delivered superior performance with high PLF during the reported quarter.

Praveer Sinha, CEO and Managing Director, Tata Power, said, “We have commenced FY25 on a strong note, which is reflected in the Q1 FY25 results as we book our all-time high and 19th consecutive quarter of PAT growth. All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum. As we achieve 1 lakh rooftop solar installations across the country, we thank our customers for choosing Tata Power as their green energy partner. With our pan-India campaign, ‘Ghar Ghar Solar Tata Power Ke Sang’, we are powering solar adoption in the country via solar panels manufactured in our newly built 4.3 GW solar module and cell plant in Tamil Nadu.”